New York Fed Chair Supports Keeping Jamie Dimon on Board

Federal Reserve Bank of New York Chairman Lee Bollinger is all for Jamie Dimon staying on the board of the NY Fed.

Bollinger, president of Columbia University, told the Wall Street Journal he doesn't think Dimon should step down from the New York Fed's board, as critics have urged in the wake of JPMorgan Chase & Co.'s disclosure of more than $2 billion in losses in risky trades.

"Jamie, myself, the other members of the board, do not get involved in oversight of the supervisory function of the New York Fed," Bollinger told WSJ.