Wasting Time With Alex

Getting paid for serivces rendered…

So we now find out that GE is making out like a bandit from the government rescue programs, even though they were not one of the original recipients.

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.

And I hesitate to say so, but I believe that the reason GE isn’t facing the same restrictions that the other financial giants are, is because GE is a first rate democrat donor and already pushes many of the left’s agendas. In fact GE is a big believer in AGW and stands to make a major killing from the whole AGW scam through a vast array of services and equipment sales.

GE’s finance arm is not classified as a bank. Rather, it worked its way into the rescue program by owning two relatively small Utah banking institutions, illustrating how the loopholes in the U.S. regulatory system are manifest in the government’s historic intervention in the financial crisis.

The Obama administration now wants to close such loopholes as it works to overhaul the financial system. The plan would reaffirm and strengthen the wall between banking and commerce, forcing companies like GE to essentially choose one or the other.

Bleh, this is just smoke and mirrors. I am not falling for that crap. Remember that these are the same people that rushed through the stimulus bill without reading it and now also passed a massive “Cap and Tax” bill that is not even written yet, now saying they worry about GE! Obama’s people already showed they had very little regard for either the constitution or the rule of law with Chrysler and GM, anyway. If they really wanted to go after GE they would have. And my guess is that GE is not the only company making out ,and making out well, because of their close relationship with the political left. I guess corporate America is only evil when they don’t know which politicians’ campaign chest to keep full. Immelt and the rest of those good old boys don’t have to worry about their payday as long as the donkeys are in charge.