Goldman Sachs has made clear that it wants to repay its TARP funds quickly. JPMorgan, in the wake of its surprisingly good earnings, has been less definitive. CEO Jamie Dimon did call TARP funds a "scarlet letter" and says the bank "learned its lesson about borrowing from the government," according to Bloomberg.

But so far he hasn't come out and said he wants to pay the $25 billion back. He did indicate that the bank will not participate in the PPIP program, even though it might be good for the credit markets and the movement to get toxic assets off banks' books. Some have interpreted this as Dimon calling out Treasury officials. But if the Treasury wants the bank to hang on to its TARP funds for a bit longer, it will be hard to say no. We might see it and a few other banks make a partial pay back, if only to make a statement. A lot will be riding on the stress tests, though JPMorgan's TCE looks good. 

For more:
- here's the Bloomberg article

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