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Brian Chappatta

Jamie Dimon Gets His $30 Billion Buyback Wish

The Fed eased up on Wall Street’s capital restrictions after a second round of stress tests, and banks wasted no time.

Green light.

Green light.

Photographer: Al Drago/Bloomberg

JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon made no secret that he wanted to buy back some of the bank’s stock before the roaring equity market rally took it too far. “I hope we can do it before it goes way up,” he said in July.

Five months later, right in the heart of the holiday season, the Federal Reserve made his wish come true. And he and JPMorgan could hardly wait to share the good news.