TARP Warrants Show Banks May Reap ‘Ruthless Bargain’ (Update2) - Bloomberg.com

TARP Warrants Show Banks May Reap ‘Ruthless Bargain’ (Update2) - Bloomberg.com: "Because Old National was the first to repay TARP money and buy its rights back, the transaction “sets the price point for the whole program,” said Simon Johnson, a fellow at the Peterson Institute for International Economics in Washington.

“The point of the warrants is that taxpayers participate in the upside,” said Johnson, who testified on the securities before Miller’s subcommittee on May 19. “It defeats the whole purpose if you’re going to sell them way below market price.”"