.....erledigten einen guten Job für JPM.
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www.palmbeachpost.com/opinion/commentary/...greene-807487.html
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Commentary: The TARP over Martinez and Greene
Former Sen. Mel Martinez, R-Fla., is landing on his feet. He just took a job with JPMorgan Chase.
Meanwhile Palm Beach billionaire Jeff Greene hopes to land in the Senate seat that Mr. Martinez prematurely vacated in August. If he succeeds - and even if he doesn't - he and Mr. Martinez will have JPMorgan Chase in common.
How so? Back in 2008, Sen. Martinez voted for the $700 billion Troubled Asset Relief Program. That program, known as TARP, was meant to keep America's banking system from collapsing.
JPMorgan Chase received $25 billion from the taxpayer-financed bailout program. Not only did JPMorgan Chase survive, the banking giant thrived so well it was able to buy another giant, Washington Mutual, as it crashed.
JPMorgan Chase's acquisition of WaMu led to a big expansion in Florida, where it plans to add 20 branches a year. That led it to need a chairman for Florida, Mexico, Central America and the Caribbean, which led it to hire Mr. Martinez.
Back to Mr. Greene. Far from helping to bail out JPMorgan Chase, he made big bets through the bank - via credit default swaps - that the economy would tank. When it did, JPMorgan Chase paid him millions of dollars. Mr. Greene has used that bonanza to pay for his run at the Senate . As it happens, Mr. Greene's Democratic primary opponent, Kendrick Meek, also voted for the bailout, which helped JPMorgan Chase, which helped Mr. Greene. Would JPMorgan Chase be in business now if it weren't for the TARP money?
That's unknown. And JPMorgan has paid back its TARP loan. But it's certain that both Mr. Martinez and Mr. Greene can thank JPMorgan Chase for where they are today.
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