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onthehillblog.blogspot.com - 6/29/2009

How a Loophole Benefits General Electric in Bank Rescue

— onthehillblog.blogspot.com — WASHINGTON – 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. (more) How a Loophole Benefits General Electric in Bank Rescue

Government

General Electric

Financial Crisis

FDIC

Bailout Plan

Sheila Bair

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GE Stock Worth Just $2, Says Longtime Bear Charles Ortel
Yahoo! Finance: Tech Ticker — ... Like other financial firms, GE weathered the storm, thanks in part to the government’s bailouts – last November GE Capital was declared eligible for TARP funds, thanks to its ownership of a small S in Utah. To date, GE Capital has issued about $80 billion of FDIC-insured debt through the Temporary Liquidity Guarantee Program, or TLGP, The Washington Post reports . But GE is far from out of the woods, according to Charles Ortel, managing director of Newport Value Partners, an independent research firm. As of March 31, GE had $470 billion of debt vs. just $2.8 billion of ...