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Home Depot
HD co-founder, Ken Langone, appeared on CNBC's Squawk Box. Langone was defending JP Morgan
JPM and its CEO, Jamie Dimon by saying that:
-Jamie Dimon an incredible human being and good at managing risk.
-Every bank that gives out loans puts its capital at risk.
-Said the loss came from hedging, not from prop trading.
-Langone also noted that he own a lot of JP Morgan shares and was trying to hire Jamie Dimon to run Home Depot.
-However, he admitted that Paul Volcker has a much deeper understanding on the issue, when it comes to bank regulation.
JPMorgan Chase is trading at $36.74 up $0.50 or 1.38% pre-market.
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