re: #333 iossarian

I get what you’re saying. However, if you’ve already set aside X dollars for stock buyback, your dollars will allow the buyback of that many additional shares - supporting the share price at the same time as getting more bang for the money already set aside.

In Chase’s case, they had reauthorized and expanded the existing buyback program back in March - and the purchases are contingent upon several conditions being met.

The bank is authorized to buy back up to $12 billion in 2012 and another $3 billion through the end of the first quarter of 2013. It expects to buy back at least the same amount of shares it issues for employee stock-based incentive awards.

Dimon said the company intends to repurchase equity only when it is generating more capital than it needs to fund organic growth and when it thinks the investment will provide “excellent value” to existing shareholders.