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GE says gets FDIC backing for $139 billion in debt
Reuters ^
| November 12, 2008
Posted on 11/12/2008 2:56:24 PM PST by Shermy
BOSTON (Reuters) General Electric Co (GE.N) has secured the temporary backing of the Federal Deposit Insurance Corp for up to $139 billion of the debt of its finance arm, a spokesman said on Wednesday.
"We are eligible now and included in the FDIC temporary liquidity guarantee program," said Russell Wilkerson, a spokesman for the U.S. conglomerate.
(Excerpt) Read more at news.yahoo.com ...
TOPICS: Breaking News; Business/Economy; News/Current Events
KEYWORDS: bailout; bankinglist; debt; economy; fdic; financelist; ge; generalelectric; govwatch; moneylist; socialism
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To: gondramB
No GD is long gone. General Electric owned or owns electric boat div. that makes the subs
41
posted on
11/12/2008 4:51:58 PM PST
by
omega4179
(IS IT COMMUNISM YET OR JUST RETARDATION.)
To: Borges
>>>You never watch films made by Universal?
Not anymore.... Thanks for the info
42
posted on
11/12/2008 4:55:33 PM PST
by
Safrguns
To: Safrguns
GE is at the very top of my list of companies I will NEVER do business with again.Boycott these bastards.
I agree entirely. In fact, I boycotted them today by giving them my two-weeks notice... and it felt GREAT!!
To: omega4179
No GD is long gone. General Electric owned or owns electric boat div. that makes the subs GD is alive and well building and repairing USN SUBs. I can't find any link up between GD and GE but GE builds sub components for France and Italy I think.
44
posted on
11/12/2008 5:04:08 PM PST
by
cva66snipe
($.01 The current difference between the DEM's and GOP as well as their combined worth to this nation)
To: I see my hands
Maybe if more people objected to the hundreds of billions of dollars it costs corporations to bail the govt. every year then corporations might not need a rescue. Well said! It doesn't help when blowhards like O'Reilly join the crowd over how "much" the oil companies and CEOs make (in general) and fueled the class-warfare of the left. These companies pay so much in taxes and g'ment mandated costs, in addition to the current mindset that no one needs to prepare for his own future, assuredly contributes to the current state of affairs.
Some people just don't care that it is unconstitutional to bail out companies or to tax them as long as they get something out of it for themselves- perception that they pay less tax or that somehow the "man" is paying his "fair" share. Argh.
45
posted on
11/12/2008 5:04:08 PM PST
by
DilJective
(Who is John Galt? Midas Mulligan? Francisco D'Anconia? Dagny? It's time to go on strike!)
To: cva66snipe
Well the GD that build the F16 isn’t around though.
46
posted on
11/12/2008 5:06:08 PM PST
by
omega4179
(IS IT COMMUNISM YET OR JUST MASS INSANITY.)
To: April Lexington
How do you spell Pravda! Novosti
47
posted on
11/12/2008 5:06:43 PM PST
by
do the dhue
(They've got us surrounded again. The poor bastards. General Creighton Abrams)
To: omega4179
48
posted on
11/12/2008 5:09:22 PM PST
by
cva66snipe
($.01 The current difference between the DEM's and GOP as well as their combined worth to this nation)
To: Shady Ray
>>>I agree entirely. In fact, I boycotted them today by giving them my two-weeks notice... and it felt GREAT!!
WOW!... hats off to you! Thats what I call guts.
I hope you find re-employment soon with higher pay.
Better yet, I hope you start your own business and succeed.
49
posted on
11/12/2008 5:10:27 PM PST
by
Safrguns
To: sitetest
And GE will pay large amounts in insurance premiums to the FDIC for the privilege. Looks like they only have $5.5 billion or so in deposits. The premiums shouldn't be too bad.
50
posted on
11/12/2008 5:48:57 PM PST
by
PAR35
To: Shermy
GE shares were down $1.71, or 9.6 percent, at $16.10 on the New York Stock Exchange. Earlier they fell to $16.05, their lowest point in more than 11 years.
51
posted on
11/12/2008 5:53:11 PM PST
by
DTogo
(I haven't left the GOP, the GOP left me.)
To: bigbob
PRINT! PRINT! PRINT!
To: Shermy
If I recall, GE drove a lot of the lean six sigma thinking businesses wrap themselves around during the late 80s until now. Supposedly they had that and a leadership culture that allowed them to lead the market. What happened between then and now?
53
posted on
11/12/2008 6:13:55 PM PST
by
DeuceTraveler
(Freedom is a never ending struggle)
To: Dawn531
Invest in wheelbarrows...cause we'll all need one to take enough money to the grocery store to buy a loaf a bread. I recommend investing in the number "0"
54
posted on
11/12/2008 6:58:48 PM PST
by
Ken H
To: Moonman62
“If Republicans were any good at economic policy, corporations wouldn’t be needing a rescue. ‘
Post of the month. Goes for people around here. I got called and elitist for suggesting people should read Thomas Sowell.
55
posted on
11/12/2008 7:10:31 PM PST
by
Sunnyflorida
(Unless you are nice and thoughtful you will be ignored. Write in Thomas Sowell.)
To: JSDude1
“So now the fraudulant FDIC not only does banks, it also gives taxpayer money to corporations:”
Ah, banks ARE corporations, Duh.
56
posted on
11/12/2008 7:12:27 PM PST
by
Sunnyflorida
(Unless you are nice and thoughtful you will be ignored. Write in Thomas Sowell.)
To: Sunnyflorida
In the non-banking (industry), I think this was implied,
smarty-pants.
57
posted on
11/12/2008 7:33:27 PM PST
by
JSDude1
(PAUL BROUN for House Republican Minority Leader..Mike Pence for conference chair!)
To: omega4179
Doesn’t look like GD is gone to me...
GD - General Dynamics Corporation (NYSE)
57.55 -1.74 (-2.93%) Nov 12 4:01pm ET
Open: 58.33
High: 59.29
Low: 57.02
Volume: 4,072,215
Avg Vol: 3,907,000
Mkt Cap: 22.43B
After Hours: 57.55 +0.00 (0.00%) Nov 12 5:08pm ET
58
posted on
11/12/2008 10:26:28 PM PST
by
trussell
(I carry because...When seconds count between life and death, the police are only minutes away)
To: rabscuttle385
When will it end?
To: Shermy
Payoff for ‘in kind’ contributions from MSNBC. Probably part of Keith’s new contract.
60
posted on
11/13/2008 2:32:55 AM PST
by
Kent C
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