Some of the world’s biggest banks hinted they wanted to repay government money: JP Morgan, Goldman Sachs and Morgan Stanley were reported to have applied to refund up to $45bn of US government funds from the Troubled Asset Relief Program. I am crossing my fingers for them. Pay back as soon as possible so I can breathe normal as capitalist again.
Added to that, reports that the US government’s eagerly awaited ’stress tests’ for banks suggested bank capital shortfalls might be less than previously expected also buoyed the sector. JPMorgan chief executive Jamie Dimon said at a shareholder meeting last month that the bank aimed to repay US government funds imminently after receiving guidelines from the government. Read more…
