Jamie Dimon generated headlines and some discomfort when refused to buy back the warrants that the Treasury had acquired as part of the original TARP bailout. The Treasury's price was just too high, Dimon reckoned.

Recall that Goldman Sachs (GS) ended up paying the government the Treasury's asking price--which was at a significant premium--which allows to say now that it paid off its TARP obligations and gave taxpayers a nice return in the process. Dimon can't make the same boast (not just yet), but he can claim he was right not to overpay for the warrants. The recent auctions of Capital One suggest that Treasury was indeed asking a bit much, according to Breakingviews. The warrants sold for nearly $150 million, but experts "had pegged their minimum value at more than $200 million and as high as $400 million." 

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