GE is debt is s**t and there whole game is borrowing short term commercial paper with their fake AAA credit rating.
Well the markets and credit default swap (insurance) market was going after GE’s worthless debt. Obama Uncle Same backed the debt with the US Treasury. This happened almost a year ago. GE would have gone bankrupt in weeks.
Great we were forced to pay to have more jobs go overseas
Light bulb factory closes; End of era for U.S. means more jobs overseas
http://www.washingtonpost.com/wp-dyn/content/article/2010/09/07/AR2010090706933.html