Goldman and JP Morgan Poised to Pay Back Taxpayers—UPDATED
UPDATE: More than two weeks after it was first reported by The Daily Beast’s Charlie Gasparino, Goldman Sachs and JPMorgan Chase appear poised to receive approval to repay their Troubled Asset Relief Program loans. On Monday, The Federal Reserve outlined the process it would use to allow banks exit TARP, and both Goldman and JP Morgan—which raised additional capital, perhaps to address consumer loan issues brought up by the Daily Beast—confirmed that they plan to do so this month. Additionally, Morgan Stanley will now sell $2.2 billion worth of stock in an effort to follow suit.
