Ken Langone Defends JP Morgan and Jamie Dimon

Home Depot

co-founder, Ken Langone, appeared on CNBC's Squawk Box. Langone was defending JP Morgan

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.