Reporter: I'm here with Jamie Dimon. Thank you for stepping out of the hearing and talking to us. Tell me what your reaction is. How did it go in there?

Dimon: I think it's completely appropriate that the government looked into a situation like this. It’s unprecedented and has future implications of policies. I think the senators asked smart questions and they are thinking about the right issues.

Reporter: Can you give us a sense of how it went down on that weekend, how you came up with the valuation of $2 and then $10，how it was that you actually came up with this price.

Dimon: It’s really hard to do that because I think it’s unprecedented in the 48-hour period that two companies and the government get together and pull up a transaction like that. A lot of the price had much more looking at the downside, how much risk could JPMorgan bear. Not the upside. We want to make sure that JPMorgan was never put in a position where its financial position was jeopardized in any way，shape, or form.

Reporter: And you’re talking about a risk of 300 billion of assets.

Dimon: That’s correct. And we took an unprecedented guarantee of customers & liabilities and I think the Bear Stearns employees, we want to win their hearts and minds, we think they have some great people. They’ve been there for a long time. They are proud and should be proud. So we want to welcome a lot of them to our company too.

Reporter: A lot of people talking about the relationship between you and Tim Geithner, how you and the fed got involved. Were there any other bidders at the table? Yours was the only bank that had the capacity to do this.

Dimon: I know other people that there were there and in the proxy they will have to disclose some of that but I think—and I'm going to speak about Tim Geithner and secretary treasury Paulson and chairman of the receive Bemanke I think we’re lucky to have public officials that dedicated, hard, creative and can go to work around the clock like they did.