So apparerntly it’s TARP repayement day. In addition to JP Morgan Chase, seven other firms have made TARP repayments today.
- Morgan Stanley repaid $10 billion
- Goldman Sachs also repaid $10 billion
- BB&T repaid $3.1 billion
- US Bancorp repaid $6.6 billion
- Bank of New York Mellon $3 billion
- Capital One repaid $3.57 billion
- American Express repaid $3.39 billion.
All of that money goes into the general Treasury fund, which means it can be used to reduce the budget deficit or be spent by politicians on their pet programs.