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Economics Discuss JPMorgan expects $1.1 bln Q2 charge after TARP at the Political Forums; Other large banks incur charges from TARP repayment * 10 large banks repaid more than $68 billion NEW YORK (Reuters) ... |
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![]() 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, ![]() |
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![]() 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, ![]() |
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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... Quote:
Think that gets you off the hook?... ![]()
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