What did JPMorgan Chase say about the bailout?

March 15, 2020 Off By idswater

What did JPMorgan Chase say about the bailout?

For those who opposed the massive bailout, a report in the New York Times may be little surprise. A reporter was able to get into a telephone conference call with JPMorgan Chase to hear executives discuss the $25 billion it received from Congress.

How much money has been spent on the bank bailout?

But this is a long way from the truth because the bailout is still ongoing. The Special Inspector General for TARP summary of the bailout says that the total commitment of government is $16.8 trillion dollars with the $4.6 trillion already paid out. Yes, it was trillions not billions and the banks are now larger and still too big to fail.

When did the government bail out the banks?

Opinions expressed by Forbes Contributors are their own. This article is more than 5 years old. Most people think that the big bank bailout was the $700 billion that the treasury department used to save the banks during the financial crash in September of 2008. But this is a long way from the truth because the bailout is still ongoing.

How much money has come out of the Fannie and Freddie bailout?

Altogether, accounting for both the TARP and the Fannie and Freddie bailout, $634B has gone out the door. Money has been coming back in two ways: $390B of principal has been repaid, and the Treasury has collected revenue from its investments of $364B . In total, the government has realized a $121B profit as of January 31, 2020 .

Who are the banks that got the bailout money?

CNN contacted the banks that were given the biggest chunks of the bailout: Citigroup, JPMorgan Chase, Wells Fargo and Bank of America.

For those who opposed the massive bailout, a report in the New York Times may be little surprise. A reporter was able to get into a telephone conference call with JPMorgan Chase to hear executives discuss the $25 billion it received from Congress.

Opinions expressed by Forbes Contributors are their own. This article is more than 5 years old. Most people think that the big bank bailout was the $700 billion that the treasury department used to save the banks during the financial crash in September of 2008. But this is a long way from the truth because the bailout is still ongoing.

When did JP Morgan Chase receive federal funding?

The critical moment on the Oct. 17th call came when someone asked “Chase recently received $25 billion in federal funding. What effect will that have on the business side and will it change our strategic lending policy?”