Boycott Anything NBC/MSNBC/CNBC - GE Govt's Biggest Beneficiary of Bailout - through Loophole

How outrageous that GE is the biggest beneficiary of the Govt's bailout program, by owning 2 small banks - they don't have to follow the rules either!

link to article: www.washingtonpost.com...

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.

So, GE is getting money from all of us, because they can. Mind you the govt. turned down California's request for help, because it was actually for the average citizen. Come July 1st. California is going to be in a world of hurt - welfare, health, parks, jobs, the list goes on and on will be stopping.

But GE a Huge corporation got 340 BILLION from the bail out!!!!

Everyone needs to seriously BOYCOTT ANYTHING NBC!!! All of us suffer, while others get money just for the heck of it, when they don't need it!!!

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.

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.

Below you will see, it IS the largest corporation - they had NO RIGHT to get 340 BILLION dollars!!!

The current good fortune of General Electric, ranked by Forbes as the world's largest company, has roots in the Great Depression, when it created a consumer finance arm so that cash-starved families could buy its appliances.

What grew from those beginnings is now a powerful engine of profit, accounting for nearly half of its parent's net earnings in the past five years. GE may be better known for light bulbs and home appliances, but GE Capital is one of the world's largest and most diverse financial operations, lending money for commercial real estate, aircraft leasing and credit cards for stores such as Wal-Mart. If GE Capital were classified as a banking company, it would be the nation's seventh largest.

The article is 4 pages long and well worth reading - including on how GE worked the system to get the money!!

The govt. doesn't stop amazing me, on how they are working against the people and only for big corporations!

Again - I have gotten an email going - linking this article asking everyone to BOYCOTT ANYTHING NBC!!

That is one of the mildest things we can all do, to show our disapproval of the government and big corporations who are getting money from all of us!!

Edit - GE OWNS NBC/MSNBC/CNBC - for those who may not know.

Also - email others about this info - wouldn't it be Cool if ATS members got a boycott going against the network?!







[edit on 29-6-2009 by questioningall]

I already boycott these companies, due to GE's involvement with Iran, and the fact that NBC, MSNBC, and CNBC wouldn't know the truth if it slapped them in the face.

fdic debt guarantee program and ge capital

For GE Capital, this will cover debt up to approximately $139B, which includes Long Term debt, Commercial Paper, and other debt programs such as our GE Interest Plus, etc. This does not mean that GE intends to issue this amount of debt but that this is the maximum amount of debt, which the guarantee will cover. Our participation should not significantly increase costs. The program will help put us on a level playing field. We will be required to pay a fee, but the guarantee should help make our lending costs competitive with other participants and reflective of our Triple-A credit rating.

Sure, lets get rid of; Aviation, Aircraft Jet Engines, Electricity, Finance, Gas Turbines, Generators, Industrial Automation, Medical Imaging Equipment, Medical Software and Motors, Railway Locomotives and those pesky Wind Turbines.......

Lets boycott those fighter jets while were are at it. I can protect my stuff pretty good with a stick and a piece of dog doo...

---------------------

If you dont want to support GE stations and channels, you will pretty much have to stop watching TV all together; A&E, The Biography Channel, The History Channel, Bravo, USA, Sci Fi Channel, Sundance channel, Telemundo, and others...


[edit on 29-6-2009 by drsmooth23]

Jeffrey Immelt the CEO for GE is one of Obama's economic advisors in the White House. Makes one wonder.

I wonder if GE will continue to layoff their manufacturing section. Cut their pay and continue their 3 and 4 day work weeks now. I believe their up to 3235 layoffs since November, 1 according to layoff tracker.


Deleting NBC from the remote.

Thank you



[edit on 29-6-2009 by TamtammyMacx]

reply to post by drsmooth23


Nobody said the products were bad. Just because the company is not honest, that does not mean the products are bad.

reply to post by drsmooth23


Boycotting NBC stations is a good way for everyone to do something to show their displeasure over the bailouts, especially to a company, as you pointed out with all their areas DID NOT NEED IT!!

It shows the big corporations have taken advantage of the billions thrown out by the government.

Question... is there anyone you know, who has been able to take advantage of the billions?

People just to get their mortgages modified are having to jump through hoops and go through miles of red tape. YET a big corp, along with American Express and many others were able to get billions in one day's time of approval.

How is it, the average person is getting shafted - yet the BIGGEST Corporation got Billions - just because they could?!

reply to post by groingrinder


ah I was posting all that sort of tongue-in-cheekily. Those areas are vital to the infrastructure of the world. I know there are many companies that are not part of GEs Hierarchy who can produce the same things, but GE is still a pretty large patient holder and owns the rights to alot of designs.

also, If GE went down, one in every one hundred Americans would be out of a job, and I dont think those numbers even include the entertainment division, but i could be wrong.

That being said, GE is FAR from the only company to ever do such a thing. In my book, It is Washington's fault, along with the wheel greasers, who made this loop hole to begin with.

As far as I can tell from the article, they are just hidding under an Umbrella that makes certain that they will be able to continue lending to CONSUMERS, with the FDIC Guaranteeing that the rates will be protected until 2012.

They were simply worried that if they couldn't fiance their products, then most would have a hard time affording them, especially in an industrial setting where equipment costs can easily reach tens of millions of dollars for the infrastructure and equipment for a single facility, such as an airplane parts manufacturer.

My grandfather worked for GE, designing airplane turbines I believe, but he past away a few years ago, but man, Id love to talk to him about this stuff because I get pretty confused when I look at his old "Six Sigma" notebooks.

good post! I thought this was common knowledge,guess I assumed wrong.Keep up the pressure!S+F

reply to post by questioningall



What i find most interesting is that MSNBC and CNBC have some strange co-owners;

# CNBC (co-owned with Dow Jones)
# CNBC World (co-owned with Dow Jones)
# MSNBC (co-owned with Microsoft)

Assets owned by General Electric - Media


BUT DOW JONES IS OWNED BY NEWS CORP?!?!?!

Rupert Murdoch owns Dow Jones which is odd. I know most people here are rather polarized by what TV news they watch, Democrats usually prefer MSNBC, while Republicans tend to watch Foxnews, but CNBC is a marriage of two Seemingly different companies...

[edit on 29-6-2009 by drsmooth23]

reply to post by drsmooth23


I think you just illustrated how a company can get WAAAAAAY to big. Things like this shouldn't be allowed and there's more coming. Big businesses are going to start bying small, failing business, and the number of umbrellas will decrease dramatically. Just like government, a corporation should never be given so much power.

It reminds of the movie "Wall-E". There were definitely some lessons and warnings being conveyed in that movie. The entire world was taken over by one massive corporation. Not that I'm saying that is going to happen (maybe) but just the idea that it's even possible given the circumstances going on right now is scary enough.

Also, think of how much weight GE holds in political matters and how much greenbacks they have to influence politicians.

Scary times...

Whast does NBC/MSNBC have to do with GE? GE is an eelctric/aviation company, NBC?MSNBC are news forecasters.
I stopped buying GE 2 years ago. Yes, i have buoght thier lightbulbs, water filters...they work really good compared to otehrs..but after learninig of GE's coverups with enviromental damage, secrets, bieng a huge corporate company, and makes parts ect for weapons used in unessecary wars like Iraq, Pakistan ect..i have deovted and made it my mission almost, forever, to nver buy GE again.. I wonder if thokmas eddison is turning over in his grave with how GE acts...sick
I buy Phillips or westinghouse bulbs now anyting but GE!!!!

In other words, boycott lies!

And shame on GE..a product company that grew so huge,t hey own 2 banks..thats effin sick, even by buisness standards. I wonder how much money theve stollen from all of us..im sure those 2 banks have secretly funneled money into their acounts, with a 'trsuted' banksperson. Thats like walmart ownings 2 banks or mroe..thier a value store! Of course, in america, everythig is for sale, as they saying goes, but geesh! with greedless limitations!!! GE sounds more and more like that wealthy person that buys 5 mercedes and lexus's he NEVER uses or drives once a year...has an entire beach for a swimming pool, and has more property he donst attend to persoanlly, than 4 golf courses combined! Whata waste it all is...and to own banks jsut goes to expose the intention of greed, and the ones behind hungry for money,..pick pocketing the taxpayer.. correct me in wrong..thats illegal!

reply to post by nunya13


Oh yeah, never put all your eggs in one basket. Reminds me of the game monopoly, they just have some real smart lawyers who make sure they step to the "edge of the cliff" without actually falling off (IE; become a monopoly)

This is the problem I have with large government, because you will get to point where your looking after soo many different interests that you would start to wear yourself thin, then you cant even function on the base level.

reply to post by ziggy1706



What does NBC/MSNBC/CNBC have to do with GE?

GE OWNS the network!!

I think it is a good way personally for people to stand up in a small way - by letting NBC's and the rest, Ratings go DOWN!!

Nice and easy to do.

Email others, let them know about the 340 BILLION GE got and ask for a boycott - lets see if ATS members can get something going around the U.S!!

Wouldn't that be Cool!!

reply to post by questioningall

I don't have a lot of time now to do the research but look into who benefits most from cap n trade.

reply to post by genius/idoit



I have already looked into that - who benefits and who gets hurt the most!!

Guess which side the average person is on? hhhmmm....... hard one to guess!

GE is going to benefit from it all too - of course. They have positioned themselves with some renewable energy companies now.

And now you people finally realize why those network's PRAISE obama so much.

took you what 9 months to figure it out ..lol

still it's about time some people are seeing what i saw during the election and after...those who praised obama got alot of kickback's so to speak lol

reply to post by questioningall


S & F for you Q. This just confirms what myself and many others have been saying all along.

GE is in bed with Obama. Big Business has far too much control over everything. Any move the government makes almost ALWAYS supports big business over small business by making laws that cripple the competitiveness of small business. It happens all the time...and it just happened with tobacco.

Oh....and let's not forget the HUGE HUGE HUGE stake GE has in CAP and TRADE!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Fascism....gotta love it....sorry guys....it didn't leave with Bush...it's more powerful now than ever before!

So how many Obama faithful are left....and how long will you ignore these things?

I've said this numerous times.....let go of the ego of your vote and see things for what they are!!

Hold on

A company borrows money, they gotta pay it back (pay us back)...so, the theory is if we spend even less on their products, that will somehow make the company bounce back and repay?

That makes no sense...and no, I quite like the NBC channels, and GE products...and since they need the business, I might buy through them before anywhere else.

oh, and good luck boycotting anything NBC...last I seen, almost every major product was advertised through their networks...looks like your going camping for quite awhile..good luck with that, dont forget to keep your socks dry.

Seriously...why are republican propoganda threads on a conspiracy website...there is nothing hidden about this...just more sour grapes...isnt there a political forum somewhere on the internet where you can gripe for the next 4 years or so?