Loophole Helps GE Benefit From Bank Rescue Program

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First Posted: 06-29-09 12:18 AM   |   Updated: 06-29-09 12:21 AM

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washingtonpost.com:

General Electric, the world's largest industrial company, has quietly become the biggest beneficiary of one of the government's key rescue programs for banks.

At the same time, GE has avoided many of the restrictions facing other financial giants getting help from the government.

Read the whole story: washingtonpost.com

General Electric, the world's largest industrial company, has quietly become the biggest beneficiary of one of the government's key rescue programs for banks. At the same time, GE has avoided many ...
General Electric, the world's largest industrial company, has quietly become the biggest beneficiary of one of the government's key rescue programs for banks. At the same time, GE has avoided many ...
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Did any of you blaming this on Obama actually stop to read the article? This was all set up before Barack came into office!

    Favorite    Flag as abusive Posted 12:56 AM on 06/29/2009
- MizTraci I'm a Fan of MizTraci 98 fans permalink
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I think there was a tro// here today with your avatar? gringolingo or some such nonsense?

    Favorite    Flag as abusive Posted 01:11 AM on 06/29/2009
- Copeword I'm a Fan of Copeword 7 fans permalink
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Loopholes, always causing so much trouble.

    Favorite    Flag as abusive Posted 12:53 AM on 06/29/2009
- nomobull I'm a Fan of nomobull 52 fans permalink
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DID ANY OF YOU BOTHER TO READ THE ENTIRE ARTICLE. THE LOOPHOLE WAS CREATED ON OCTOBER 21. GE MADE IT'S MOVE TWO DAYS LATER. GUESS WHO WAS PRESIDENT.AND CORRECT ME IF I'M WRONG BUT GEITHNER WASN'T TREASURY SECRETARY EITHER.

    Favorite    Flag as abusive Posted 12:52 AM on 06/29/2009
- bubbuh I'm a Fan of bubbuh 161 fans permalink
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Easy there, Pardner. We're with ya. dB^D

    Favorite    Flag as abusive Posted 12:55 AM on 06/29/2009
- KQuark I'm a Fan of KQuark 267 fans permalink
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Bankington Post has to keep the outrage going.

    Favorite    Flag as abusive Posted 12:55 AM on 06/29/2009
- peacekitten I'm a Fan of peacekitten 643 fans permalink
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it's not outrage.

it's dung beetles jonezing for a fix.

    Favorite    Flag as abusive Posted 01:08 AM on 06/29/2009
- peacekitten I'm a Fan of peacekitten 643 fans permalink
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the bankington post, i mean.

that didn't come out right.,

    Favorite    Flag as abusive Posted 01:14 AM on 06/29/2009
- Freesia2 I'm a Fan of Freesia2 338 fans permalink

I don't blame you for using all caps and shouting. I kind of feel like doing that too. Heck I think I will - stress buster you know.

IF EVERYONE DOESN'T PAY CLOSE ATTENTION AND STAY ON TOP OF IT ANYTHING THAT HAPPENED UNDER BUSH WILL BE FILED UNDER OBAMA AND IT IS NOT FAIR.

That felt good.

    Favorite    Flag as abusive Posted 01:03 AM on 06/29/2009
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It's still going on.

They need to send the entire top tier of the corporations that got us in this mess packing.

    Favorite    Flag as abusive Posted 01:20 AM on 06/29/2009
- SCG I'm a Fan of SCG 110 fans permalink
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Giethner was working with Paulson before he was appointed under Obama.

    Favorite    Flag as abusive Posted 01:47 AM on 06/29/2009
- KQuark I'm a Fan of KQuark 267 fans permalink
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Bankington Post strikes again.

    Favorite    Flag as abusive Posted 12:51 AM on 06/29/2009
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As usual, eh?

    Favorite    Flag as abusive Posted 12:54 AM on 06/29/2009
- elsellel I'm a Fan of elsellel 2 fans permalink

Wow, the bailout thingy is like a giant Energizer Bunny... it keeps going and going and going.

Large companies and corporations need to be restructured so that all employees have part ownership. Everyone gets a say in what happens with their company, and no more transference of wealth to the top 1% off the blood and sweat of the actual workers. This elitist nonsense and runaway capitalism has gone too far.

    Favorite    Flag as abusive Posted 12:47 AM on 06/29/2009
- gas123 I'm a Fan of gas123 3 fans permalink

GE is Obama's halliburton. I can't wait for the no bid contracts given to GE for "clean energy" projects.

    Favorite    Flag as abusive Posted 12:46 AM on 06/29/2009
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Nice try...

Apples & oranges.

    Favorite    Flag as abusive Posted 12:49 AM on 06/29/2009

Yeah because the President spent so much time working for them before he was elected...

    Favorite    Flag as abusive Posted 12:52 AM on 06/29/2009
- dems08 I'm a Fan of dems08 194 fans permalink
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The government's actions have been "powerful and helpful" to the company, GE chief executive Jeffrey Immelt acknowledged

IN DECEMBER.

President Obama's plan:

... reaffirm and strengthen the wall between banking and commerce, forcing companies like GE to essentially choose one or the other.

    Favorite    Flag as abusive Posted 01:05 AM on 06/29/2009
- Disuberence I'm a Fan of Disuberence 130 fans permalink
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I hope this doesn't affect 30 Rock.

    Favorite    Flag as abusive Posted 12:45 AM on 06/29/2009

Hahaha

    Favorite    Flag as abusive Posted 12:47 AM on 06/29/2009
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One of the biggest mistakes this country ever made is when they made corporations "persons". That is utterly preposterous!

    Favorite    Flag as abusive Posted 12:45 AM on 06/29/2009
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It WAS a LITERAL mistake....

In Santa Clara County v. Southern Pacific Railroad, a CLERK misinterpreted the findings & the rest is "history".

    Favorite    Flag as abusive Posted 12:49 AM on 06/29/2009
- Oceania1 I'm a Fan of Oceania1 3 fans permalink
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oops.......

GE= military industrial comlplex

to which Obama just got another 100 nillion dollars for while escalating the wa r in palkistan and afghanistan

OF COURSE THIS IS NO COINCEDINCE

    Favorite    Flag as abusive Posted 12:43 AM on 06/29/2009
- fcsakes I'm a Fan of fcsakes 89 fans permalink
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Talk about a coincidence, that lemon looks just like one that used to belong to someone else.

    Favorite    Flag as abusive Posted 12:48 AM on 06/29/2009
- bubbuh I'm a Fan of bubbuh 161 fans permalink
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Right. Why did you replace one stolen avatar with another? That lemon belongs to LemonMeringue?

    Favorite    Flag as abusive Posted 01:01 AM on 06/29/2009
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