Obama is paying back his croonies

Discussion in 'Politics' started by drjekyllus, Jun 29, 2009.

  1. http://www.washingtonpost.com/wp-dyn/content/article/2009/06/28/AR2009062802955_pf.html

    "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.

    The company did not initially qualify for the program, under which the government sought to unfreeze credit markets by guaranteeing debt sold by banking firms. But regulators soon loosened the eligibility requirements, in part because of behind-the-scenes appeals from GE.

    As a result, GE has joined major banks collectively saving billions of dollars by raising money for their operations at lower interest rates. Public records show that GE Capital, the company's massive financing arm, has issued nearly a quarter of the $340 billion in debt backed by the program, which is known as the Temporary Liquidity Guarantee Program, or TLGP. The government's actions have been "powerful and helpful" to the company, GE chief executive Jeffrey Immelt acknowledged in December. "

    Change you can believe in.
  2. Maybe Im jaded. But I didn't have a problem when Halliburton got those contracts in Iraq, either.

    How does this hurt us, Dr. J?

    Do u know who much of GE is in ur home?
  3. That's why CNBC is so pro Obama.
  4. Try their sister network MSNBC.
  5. Attack the policy. Remember that.

    It has to do with the fact that Obama runs his mouth about he is above the fray and lobbyist money and influence wont sway his decisions and then we have this. Say one thing, do another. Some shit like that.
  6. I have come to the conclusion that uve lived long enough to know that a politician is a liar by definition.

    And......is the there anything that links the President directly to this?