JPMorgan, Banks Seek Exit From Warrants

JPMorgan Chase (JPM Quote) and other banks are reportedly complaining that the U.S. Treasury is demanding too high a price to buy back the warrants associated with the government's bailout of the sector last fall.

Treasury has rejected as too low most of the valuation proposals received from banks looking to repay the warrants, which were issued to the government along with preferred equity stakes through the Troubled Assets Relief Program, according to The Wall Street Journal, citing people familiar with the matter.

JPMorgan Chase's Chairman and CEO Jamie Dimon told Treasury Secretary Timothy Geithner that he disagrees with some of the methods that the government is using to value the warrants, the Journal said. ...