Wednesday, July 22, 2009

GE to"exit" TLGP

GE filed an application so it will no longer have access to the Temporary Loan Guarantee Program.

GE had this to say: “Today’s plan to exit from TLGP affirms the strength of GE Capital’s funding and liquidity position, including reduced reliance on government funding programs and our ability to access non-guaranteed debt markets. We have issued approximately $12 billion in long-term debt outside of the program, including close to $3 billion this week in a Euro deal that saw strong demand,”


Didn't GE buy two small Utah banks, so it could get in this program? And wasn't the door closed to GE from the TLGP, until GE did some back door maneuverings?

And now, after issuing over $80 billion of debt guaranteed by the taxpayer, GE is now tooting it's own horn? Next they will tell us that they are now whole on their Latvia real estate loans!

Once again, we see imagination at GE.

In their press releases!

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