JP Morgan Grants $936 Million to US Treasury
The US Treasury Department will receive a $936 Million repayment due to the sale of warrants received from JP Morgan Chase & Co. The US Treasury will be granted the large sum of money due to the support it provided to the company amidst the recession the past couple years. The US Treasury claims that it sold over 88.4 million warrants at a rate of $10.75 each in a recent auction. The financial institution received support from the Treasury through the second auction of warrants, which stemmed from the $700 billion financial bailout fund. Accordingly, many steps are still being made to pull America’s economy fully out of the recession.