Initial published reports are positive on the price paid by Goldman Sachs to repurchase its warrants from the Treasury Department.
In my post here on July 19, 2009, "Goldman Money Sachs Full Now: Warrant to Repay Federal Taxayers?," I strongly recommended that the Treasury Department negotiate Goldman's lowball repurchase offer. It has just been reported that Goldman is today agreeing to pay $1.1 Billion or nearly 41% more than its initial offer to the Treasury Department. See Richard Beales and Dwight Cass, "Goldman Relents, But Not Chase/Breakingviews.com" p. B2, col. 1 (New York Times Nat'l ed., "Business Day" Section, Thursday, July 23, 2009).
Good job, Treasury.
Next up in the batter's box: JP Morgan Chase and its CEO "Diamond Jamie" Dimon. See id.
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