JPMorgan Chief: I Could Repay TARP Tomorrow

Dimon calls bailout money a 'scarlet letter'
By Kevin Spak,  Newser Staff
Posted Apr 16, 2009 10:40 AM CDT
JPMorgan Chief: I Could Repay TARP Tomorrow
From left, JPMorgan Chase CEO Jamie Dimon, Goldman Sachs CEO Lloyd Blankfein, and White House staffer Dag Vega leave the White House, March 27, 2009, following a meeting with President Barack Obama.   (AP Photo)

JPMorgan Chase can’t wait to pay back the government’s bailout money, CEO Jamie Dimon said today, after the company posted a better-than-expected $2.1 billion in earnings. The CEO called the funds a “scarlet letter,” Bloomberg reports, and said he was just waiting for the Treasury’s OK to dump “the TARP baby.” “We could pay it back tomorrow,” he said.

Dimon also said that JPMorgan won’t be buying or selling toxic assets under the Treasury’s new Public-Private Investment Program. “We learned our lesson” about borrowing from the government, he said. (More Jamie Dimon stories.)

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