General Electric’s financial services division received $140 Billion dollars from the federal government. (FDIC) Which their financial division is NOT a depository banking institution.
Ironically enough they have not been forced to reorganize like General Motors or AIG. In fact, their CEO, CFO and other executives have not been forced to slash their compensation likes the current administration has ordered other recipients’ of the TARP funds to do so.
Odd, isn't it, that even though it operates in the same economic environment as regulated financial behemoths, G.E. never seems to get hit by out sized credit losses or asset write downs? Is that because a) the people at G.E. are just smarter than everybody else, or b) the company has wide latitude to paper over problems since it doesn't have a regulator looking over its shoulder?
What is truly frightening is that GE owns CBS/ Universal, MSNBC and NBC. Clearly, all of these ‘news agencies’ were on the Obama ticket and since they have not been forced into restructure, their debt to the administration is clearly extensive. It appears that all future stories from these channels will paint a rosy picture of success and popularity.
In April GE and Intel announced a joint partnership (working with the federal government) to co-create a national electronic database to collect ALL citizens medical records. Everyone may want to get a copy of the US constitution and see what they think about this move and how is violates our 4th and 5th amendments.
A part of this joint effort to create this medical data base it will be headed up by disgraced Tom Daschle, Barack Obama’s pick for health and human services secretary, who unexpectedly withdrew his nomination in February, amidst a scandal involving unpaid taxes. Daschle’s resignation came a day after Obama declared he “absolutely” continued to support the nomination.
In February, Daschle paid nearly $130,000 in back taxes related to a Cadillac and chauffeur provided him by his former employer and political supporter, multimillionaire investor Leo Hindery. The belated tax payment came once it was clear that Daschle would be tapped for a position in the new Obama administration, and therefore would have to disclose his finances.
The senate is scheduled to vote for the National Health care reform in July. Rationed health care seems to be so much closer than we could imagine. Does anyone believe that the members of congress or the house will participate in a national program? Did Ted Kennedy seek medical procedures for his brain tumor in a public hospital, I believe that he did not have to wait for the proceedure and was taken in immediately. However, Ted has been the biggest out spoken senator for Univeral Health Care and public schools apposed to charter schools. How many of his family members are on these programs and have gone to public schools?
Thursday, May 14, 2009
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