19 August 2011 0 Comments

Big Business Is Not The Forgotten Taxpayer’s Friend Part 9: Federal Reserve Billions to Corporatist GE

General Electric Tapped Federal Reserve to Borrow $16 Billion Jeff Gerth ProPublica 2 December 2010

The GE building in New York City and Federal Reserve Washington DC – private public partnership – The Forgotten Taxpayer’s Financing Private and Public Corporations

Newly released documents from the Federal Reserve Board show that General Electric Co. was a significant user of one of the Fed’s rescue programs in the fall of 2008, even as the blue-ribbon company enjoyed the highest credit rating available at the time.

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