JPMorgan Chase has repaid in full the $25 billion preferred stock investment it accepted through the Troubled Asset Relief Program, the company said today. It also plans to inform the Treasury today of its intent to repurchase the 10-year warrant issued to the Treasury in connection with the preferred investment.
Somewhere Hank Paulson must be smiling. He called the TARP purchases an investment, and insisted that the taxpayers could actually make money on the bailout. And, at least with JPMorgan Chase, we did. The bank has the U. S. Treasury an aggregate of $795,138,889 in dividends on the preferred stock.
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