Morgan Stanley announced that it has agreed with the U.S. Department of the Treasury to repurchase, for $950 million, a warrant previously issued to the U.S. Treasury by the Firm under the TARP Capital Purchase Program and related to the U.S. Treasury's $10 billion investment in the company.
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The company said this represents a total of $1,268 million paid to the U.S. government for its investment, including dividends.
"Morgan Stanley is pleased to be repurchasing this warrant and providing U.S. taxpayers a 20 percent annualized return on their investment in our company. We appreciate the critical role that the U.S. government played last fall in helping stabilize the banking industry and financial markets at a moment of unprecedented crisis. As we move forward, we believe it is vital for our industry to recognize the lessons of last year's financial crisis and work with our regulators, legislators
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