What to make of warrant repurchases?

Two big institutions, Goldman Sachs and American Express, have announced recently they will buy back TARP warrants from the government without a big fight over valuation. This stands in contrast to the move by JPMorgan Chase, which has taken the alternative option, essentially allowing bidders to decide the value.

The Goldman Sachs and American Express deals would appear to value the warrants, that certainly isn't cheating taxpayers. Many, of course, thought a big fight--yet another--was in the making. But banks wisely seem to be backing down. The last thing they want is a big PR war over whether they're trying to cheat the government. The longer you wait, given recent stock movement, the higher these warrants rise in value. 

For more:
- here's a CNNMoney article

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