Chase Bank is paying out over $5 billion in annual dividends, during the "greatest credit crunch" and "largest financial crisis" in the country's history, which Warren Buffet says is about to send the USA over a precipice, even, if not addressed by Congress.
As reported in the press, Chase (tic: JPM) continues to receive backstop from the Fed on their Bear, Stearns purchase. Perhaps the value of that $30 billion line could be made to amortize at the rate of, say, $5 billion annually?
Friday, September 26, 2008
Thought for the Day
