Former Treasury Secretary Hank Paulson remarking on the $13 billion fine levied on JPMorgan, called Jamie Dimon a "very strong CEO that had the confidence of his board" of the bank chief's acquisition of Bear Stearns.
In an appearance Tuesday on CNBC's "Closing Bell," Paulson also discussed where the markets are today from the market's collapse five years ago.
"If Bear Stearns had gone down there would have been a disaster," said Paulson, the former CEO of Goldman Sachs. "I think it would have been horrendous because I think Lehman would've gone down right away and we hadn't yet stabilized Fannie or Freddie."
(Read more: Hank Paulson: Some elements 'hijakced the debate')