Other large banks incur charges from TARP repayment

* 10 large banks repaid more than $68 billion

NEW YORK (Reuters) - JPMorgan Chase & Co said it expects to record a $1.1 billion charge in its second-quarter results after returning $25 billion in taxpayer funds to the U.S. government.

The charge, relating to the early repayment of the government's investment, reduces second-quarter results by about 27 cents a share, the bank said in a regulatory filing Friday.

JPMorgan also said it has paid more than $795 million in dividends on the preferred stock it issued to the government in the fall, as part of the government's Troubled Asset Relief Program.

Ten large banks, including JPMorgan, repaid more than $68 billion to the TARP on Wednesday, in a bid to extract themselves from government restrictions on pay for top executives.

Goldman Sachs Group said it paid a dividend of $425 million, reducing second-quarter earnings by about 77 cents a share, the bank said earlier in the week. Morgan Stanley said it expects a $892 million charge in the second quarter relating to the early repayment of the government investment.

Both Goldman and Morgan Stanley received $10 billion from the bank bailout fund.

JPMorgan expects $1.1 bln Q2 charge after TARP

What's that? 'Bail-out' funds to banks producing a profit? Go figure, .

Where does it say that?...

I see the company producing a profit and I see the company repaying the loan...

What I DON'T see is anyone saying that they wouldn't have gotten a profit IF NOT for the bailout loan...

This has nothing to do with business transactions...You didn't bold the relevant part...

THAT IS ALL...

The banks want this bailout bullsh*t out of their hair so can prevent the government from imposing their will on the private sector...

Nothing more...

__________________
"You get the respect that you give" - cnredd

I don't understand, I thought you detest government intervention? Shouldn't you be happy the banks are trying to get government out of their business? Regardless of their motivations, I thought this would make you happy.

My point is that, like in a similar situation with the Continental Illinois Bank in the 80s, and as discussed ad nauseum a few months ago when the bailout was being argued back and forth, in the long run, the government will get its money back and then some.

"JPMorgan also said it has paid more than $795 million in dividends on the preferred stock it issued to the government in the fall..."

Dividends means profits. It is a return on an investment. It is not the early repayment fee, nor it is the repaid capital. It is a PROFIT,

I not happy about ANY of it, but I'm LESS disappointed knowing the banks are repaying the loans so they can get back to being FREE from government interference...

I...DON'T...CARE....

Putting the government in bed with the private sector influences them POLITICALLY...That's is IRRELEVANT of whether thay get an extra penny or lose an extra penny...

You're are looking at the short-term bottom line...I'm looking at the long-term negative effects...

And you can make a profit with money the mafia loaned you, too...

Think that gets you off the hook?...

__________________
"You get the respect that you give" - cnredd