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Bank Execs Talk After Meeting With Obama

Our Erin Burnett spoke with several bank CEOs as they emerged from a meeting with the President.

While no hard news was made, the level of contentiousness seems to be much lower.

JP Morgan CEO Jamie Dimon said he had no plans to raise more equity, and while noting that he does not normally disclose monthly results, he did say that "March was a little tough."

Banks dropped a bit on that comment.

On returning TARP money, Mr. Dimon said there was no talk about returning TARP at the meeting, but noted that the stress test was coming.

Lloyd Blankfein of Goldman Sachs also told Erin that banks would have to wait until the stress test comes out before the banks would return money.

Mr. Blankfein declined to say if he needed to raise money, saying he wanted to hear from the regulators after the stress test.

Ken Lewis at Bank of America said that "cooler heads would prevail" on the executive compensation issue, though he did not say exactly what the compromise would be.

Mr. Lewis said he would like to return the TARP money "as soon as it makes sense."

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  • Obama To Bankers: We're In This Together
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