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JPMorgan chief Dimon: 'The buck stops with me'

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The head of the nation's largest bank told the Senate Banking Committee Wednesday that he could not and would not defend the complex trade that had cost the company billions in a matter of weeks.

"Under any name, what you call it, I will not defend it," he said. "It violated common sense." 

"I'm absolutely responsible, the buck stops with me," he added. 

Read more on The Hill's On The Money blog.