JPMorgan's stock climbed $1, or 3 per cent, to $35.05 after Dimon seemed to indicate that the losses from the trade were contained. Dimon said that the trade might not lose any more money. Investors were also cheered to hear that the bank might resume its plan to buy back its own stock. Dimon said the bank was in discussions with the Federal Reserve and would submit a plan in hopes of buying back stock starting late this year.
Under close questioning from lawmakers in June about his own role in setting up the investment division responsible for the mess, Dimon declared: 'We made a mistake. I'm absolutely responsible. The buck stops with me.'