JPM's Dimon Ready To Give Back TARP Money?
We know that Goldman Sachs is looking for ways to give back the TARP Money. But there may be another bank looking to give it back.
JPMorgan CEO Jamie Dimon was at a town hall meeting Tuesday when somebody asked him about last week's congressional grilling. He had an interesting quote.
"While I was sitting there I was thinking I should raise my hand and say 'I will wire you back the (TARP) money if you let me leave right now,'" said Dimon.
The line got a big laugh but Dimon was only half kidding. JP Morgan Chase is exploring ways to give back the TARP money as soon as possible.
How they do this is unclear but there's no doubt that senior executives aren't merely thinking about returning the money at some future date—they have begun formal deliberations on how to do this. A spokeswoman for JPMorgan had no comment.
JP Morgan is one of eight large banks using taxpayer money from the Treasury Department's $700 billion bailout fund.