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Politics : The Obama - Clinton Disaster
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To: Hope Praytochange who wrote (16420)7/30/2009 2:11:21 PM
From: DuckTapeSunroof  Read Replies (1) of 103300
 
TARP exit for AmEx.

American Express (AXP) has officially exited TARP after repurchasing warrants from the government for $340M. The company said the warrant buyback, along with $74.4M of dividend payments it made, provided taxpayers with an annualized 26% return. Analysts noted the repurchase price was in line with the $1.1B Goldman Sachs (GS) paid, indicating the Treasury has indeed taken a tougher negotiating stance on the warrant purchases in light of congressional pressure.

nytimes.com
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