General Electric has been investing in President Obama and his democratic party since the beginning of the primary season over two years ago. They even pushed their TV networks to be in the tank for the POTUS and the SCHMOTUS (Biden) and their policies.
That "tinkle down my leg" news coverage has paid off big for NBC News' parent company. By taking advantage of its ownership of two tiny banks in Utah, GE has been able to issue $80 Billion dollars worth of federally backed loans about one out of every four dollars available in the program.
And true to being a friend of the President, General Electric didn't have to go through any of the burdens other participants had to go through like the financial stress test. Nor did they have to worry about any those pesky salary/compensation limits so Jeffrey Immelt and the senior management didn't have to worry about the $14-18,000,000 in compensation they make.
But all that is Small potatoes, GE is uniquely positioned to make a real killing from the President:
By: Timothy P. Carney
"The intersection between GE's interests and government action is clearer than ever," General Electric Vice Chairman John G. Rice wrote in an Aug. 19 e-mail to colleagues.
Rice was calling on his co-workers to join the General Electric Political Action Committee. "GEPAC is an important tool that enables GE employees to collectively help support candidates who share the values and goals of GE."
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