Jamie Dimon, JP Morgan Chase Chief Executive Officer met with Treasury Secretary Henry Paulson. The two reportedly discussed the possible selling of some JP Morgan's shares to the government. Find out the drama behind the talks.
The terms, officials said, were devised so as not to be punitive. The rising dividend and the warrants are meant to give banks an incentive to raise private capital and buy out the government after a few years. Still, it took some cajoling.
Mr. Kovacevich of Wells Fargo objected that his bank, based in San Francisco, had avoided the mortgage-related woes of its Wall Street rivals. He said the investment could come at the expense of his shareholders.
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