JPMorgan's Dimon Talks About His New $25B

DealBook:

"We did not think JPMorgan should be selfish or parochial and try to stop what is good for the system," he said.

Of course, there have also been reports that the Treasury Department was not prepared to take "no" for an answer. So Mr. Dimon and his fellow banking chiefs may have had little say in the matter anyway.

And there was another big question hanging over JPMorgan: What will it do with the government's money? Mike Mayo, a longtime banking analyst, asked Mr. Dimon on Wednesday whether acquisitions might be an option.

Read the whole story: DealBook

Comments

[KillTheMessenger]

They could take the $25 billion and give it to their shareholders. Or buy some of their common stock back. Their current marketcap is 131 billion. So they could buy some 15+ percent of their own stock back.

That would probably make a really good point how forcing money on banks is NOT a great idea, after all.

:-)

[JJ30]

He's going global!

[JuniorNorman]

Check out myspace tom heneghan he claims aig has some funky offshore accounts with chelsea's name on them!

[darthdarcy]

Hmm Let's see what would I do with $25 billion dollars..?

Maybe put in in Goldman Sachs and join The Bilderberg Group and take over the World..!

Oh yeah and buy a Fender no wait not a Fender, but the whole company..!

[ErnestineBass]

Perish the thought!!!

Remember what happened when Fender sold out to CBS? Crapocasters.