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.
GE microholographic storage promises cheap 500GB discs, Blu-ray and DVD compatib...
Drama at GE shareholders meeting
Updated Exclusive! Entire GE CEO Confrontation! | The FOX Nation
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the FDIC announced a new category of eligible applicants -- "affiliates" of an FDIC-insured institutio
But guaranteeing a program of CRITICAL IMPORTANCE to the HEALTH of EVERY PERSON in this country, enabling them to avoid an EXORBITANT PRICE of the INSURANCE companies ... well ... never mind ... we simply can't afford it.
Our government of the CORPORATIONS, by the CORPORATIONS, and for the CORPORATIONS shall not perish from the earth ... ONLY its PEOPLE shall perish!
Burgeoning corporate structure laws, soft oversight policies, and lax enforcement practices have gotten us to where we are today--a complex tangled web that defies understanding.
Let he who is without lack cast the first stone.
If I know Obama, he'll throw a few more trillion at GE.
But then, you don't know Obama do you Perry...
sounds like he knows him all too well.
He doesn't maybe, I do....Not only was he my US Senator, but he was my (in his district) state senator...
I think it's obvious you don't know PRESIDENT Obama.
Apparently you don't think because Obama is throwing money at GE in the worlds largest quid pro quo.
You don't know him.
Alright already.
GE is about to pay up ;) Stay tuned.
Actually this is just some of the payment GE will get for giving Obama nothing but positive press coverage with NBC, MSNBC, and CNBC. This is how you pay for the state run media.
Exactly right.
Fatuous twaddle.
We have no state run media.
"But regulators soon loosened the eligibility requirements, in part because of behind-the-scenes appeals from GE."
Then the "regulators" weren't regulating very well, were they? It is becoming painfully obvious who thinks they are in charge,and they aren't trying to build a consensus!. The looters continue to loot and their shills in government continue to protect them. Enough of the soft talk - channel T.R. and bust these 21st century versions of the "trusts"! Bring back Sherman Anti Trust Act enforcement and break their power. Replace appointed "Accomodators" with regulators! Yes you can.
And here we see the problem of passing legislation without giving people the time to read it. you have to wonder how many other loopholes are going to appear in the "cap and trade" bill. most companies hire lawyers to sift the bills for loopholes and clearly they are doing a better job of reading the bills than the current senators and congressmen are doing. and once a loophole is taken advantage of, the door cannot be closed since it was "law" at the time they took advantage of it.
100% correct. The fact that 1400 page bills of mega legislation are being rammed through the house and senate should be alarming to anybody. These people don't read the bills that they sign into law. It is beyond OUTRAGE.
While Glass-Steagall was a bi-partisan act (Reckless by Byron Dorgan) the move toward deregulation was a Ronald Reagan baby. The trend began with the idea that government is bad and regulation must be overturned.
Exactly. In Reagan's mind, rich people were more honest than poor people.
That assumption still holds true. Many people believe that.
Government is bad. That's why we have a constitution to limit government.
This is just another political payoff. Just like Obama broke the law to give Chrysler to the unions to pay them for their support of him during the election. GE also supports Obama. They do own NBC and MSNBC and CNBC. These media outlets only give Obama favorable coverage even today. No critizism of Obama or his policies. For that they get money and will profit from the Cap and Trade. Politics as usual just spending more and gaining more power.
Evidently a lot of these comments come from this typical sensational headline and the two short paragraphs. The article is actually quite interesting. This is NOT Obama vs. GE at all. It has nothing to do with products that GE manufactures and sells.
This is the President closing a loophole from that "FINE" job that Henry Paulson did putting this financial rescue package together. Since the plan worked for GE Capital and they managed to avoid disaster by using this loophole, it will probably result in closing the loophole going forward.
I seriously doubt that "boycotting" their lightbulbs is going to change anything. READ the article.
get the money back--they aren't a bank. If their that broke let them go under
They aren't broke, believe me they aren't broke...th
Why does GE hate America?
But they 'Bring Good Things To Life!"
Without money,life itself would not be possible
You mean those stealth bombers and military weapons are good things?
http://www
This was one of GE's first contracts.
I heard their new chair has an energy saving mode
I hadn't realized GE was getting any part of the bailouts. I saw Immelt on ? Rose Show the other night.
He was boasting about how prosperous GE was, That it was Multinational , doing business I believe in China,and others. That the Chinese were promising to take over the Electric Car market.( and that American Workers better get with the program, or else ). I believe he said he just loved the Chinese or Indians.
He boasted about how much more GE had profited under his leadership. And how really well his part of the business world was doing. He qouted the Billions they had made. While in another sentance the expressed sympathey that the working class in America (for some reason) hadn't shared in this prosperity.
He NOR Rose seemed to see the obvious. Billions went into Profit,Bon
He said Americans still had a chance , JUST give up some pay and workers rights. He even pointed out that his company paid better than flipping burgers. Gee What a Guy.
And now I find We the American working class are bailing out people and Companys like this.
We are paying the cost of our own Destruction.
Just as sure as the people of South America were presented the bill for the cost of their Oppressors and Slavers.
It turns ones stomach, doesn't it?
GE will be one the big winners after cap and trade bill also.
Time to stop using their products and telling them why! If they look for loopholes for this, they will certainly find one if their products burn down your house. Can't trust them.....t
GENERAL ELECTRIC--
sucking at the teat of socialism and public money.
GE bought a patent for a device called a Stamet Pump that was developed with significant taxpayer money by DOE and then refused to share the device with other firms or the public at large. DOE argued unsuccessfully that the patent should be part of the public domain. This device has tremendous potential in aiding gasification of certain types of coal, something that would pave the way for carbon sequestration from coal-fired power plants. DOE argued with GE execs that they should either release the technology to the public domain or license it to multiple other firms in the interest of the public, since it was funded with public money. Also intriguing in this story is that the state of Wyoming has partnered with GE to build a $100 million gasification test center using this technology--Wyoming is chipping in half of the money from federal funds that were released to the state after a long battle by coal-friendly legislators. Wyoming released the documents detailing the partnership with so many pages blacked out because of "intellectual property, commercial, and trade secrets" that no one can figure out the answer to questions like "what does Wyoming get for its $50 million?"
For $50M ?Wyomingians? should get a reach around, breakfast, or, cab fare home.
regular folks from Wyoming maybe, however the politicians will get much more.
GE also turned down R&D funding for the polywell fusion technology. This has a price tag of $200 to develop a 100 megawatt pilot plant... The program itself was cut by Bush in 2006 the very same day the breakthru prototype was sucessfully tested.
http://www
The program now operates as a research charity... And only public money will bring it into development. Spain and China are both interested, and would appropriate money to bring the project back to life... But the chairman who controls the patents wants the technology that was invented in America, to be developed in America... So it sits.
$200 million development cost
If a contract can't be understood, then it should not be legal and binding. Should be avoided. Run Away! Have we learned NOTHING from the Investment Bank Failure ?
I would be willing to bet the contract means that GE will produce a product and sell it to to the people of Wyoming and the US at GEs price.
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First Posted: 06-29-09 12:18 AM | Updated: 06-29-09 12:21 AM