Dimon: 'Everybody Is Going to Sue' Over Mortgages

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Dimon: ’Everybody Is Going to Sue’ Over Mortgages

Dimon: ’Everybody Is Going to Sue’ Over Mortgages

Bloomberg-

JPMorgan Chase & Co. (JPM) Chief Executive Officer Jamie Dimon said clashes over faulty mortgages may drag on as investors and regulators demand compensation for soured loans issued at the peak of the housing market.

“There have been so many flaws in mortgages that it’s been an unmitigated disaster,” Dimon said during a conference call today. “We just really need to clean it up for the sake of everybody. And everybody is going to sue everybody else, and it’s going to go on for a long time.”

[BLOOMBERG]

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