JPMorgan, Goldman Sachs join Morgan Stanley in TARP exit


JPMorgan Chase (JPM), Goldman Sachs (GS) and Morgan Stanley (MS) today will begin repaying funds they received from the government's bank rescue program, according to news reports.

Together, the three banks received $45 billion in capital under the Treasury Department's Troubled Asset Relief Program, or TARP. Last week, officials cleared them and seven other banks to redeem some $68 billion in preferred shares the government purchased under the program.