Maybe so but they kept the money for a year. If they didn’t need it, they could have returned it the next day. Call me cynical but I think when the smoke clears, we’ll find out that there was a wealth distribution to big banks. Why else have the elite fought tooth and nail to halt any attempt to fully audit the Fed?
In defense of the trust, JP Morgan could not give the TARP money back when it wanted to. It had to get approval from the Federal gov’t and Reserve. Once again they were not given immediate approval because Bernanke etc did not want to mark distressed banks with a big bulls eye on them.
No they couldn't.
Call me cynical but I think when the smoke clears, we’ll find out that there was a wealth distribution to big banks.
LOL! It cost JPM $795,138,889 in dividends.
And the Treasury sold the JPM warrants for $936.1 million.