Tag Archives: Immelt

Taxpayers bailed out GE Financial in 2008, Now GE is selling off GE Financial, No “Thank You” to taxpayers

GE got caught with its pants down. It over leveraged itself like much of Wall Street before the 2008 Crash and then begged Hank Paulson in Bush’s Treasury to save the company from its bad bets. Which Paulson did – or rather WE did. Now, fully indemnified and then some, GE is getting rid of its financial division. Exiting the scene free and clear. No problem. No pain. Everything’s fine. No Thank You to the taxpayers.

Read More

Crony Duo: Bill Clinton and GE CEO Jeff Immelt team up to defend crony capitalism and Ex-Im

If there are 2 guys who know about and have benefited from crony capitalism Bill Clinton and GE CEO Jeffery Immelt are those guys. They are political business people. They are fully on board with the corporate state. They believe that government and business should partner. They see no problem with crony capitalism. The stronger the partnership between government and business the better because that means more risk is underwritten by the US taxpayer while the crony class gets to reap the profits. So what if the money which goes to finance GE in Africa comes from everyday people who are sick of paying for corporations which in some years don’t pay a dime in federal taxes? So what? This is business Clinton and Immelt remind us. You, the peons just don’t get it. Just shut up and give GE and Boeing your money you serfs, you tax and debt slaves. Know your place. How dare you question the Export-Import Bank of the United States. How dare you.

Read More

Obama’s “Power Africa” means a billion dollar payday for General Electric

“The interaction between government and business will change forever. In a reset economy, the government will be a regulator; and also an industry policy champion, a financier and a key partner.” – Jeffrey Immelt, CEO of General Electric

From the first days of this site we have chronicled GE’s mastery of the crony capitalist system. The company is extremely good at leveraging its size and political connections. Arguably there’s no company that works the system better.

Read More

GE CEO Privately Says Obama Is Going In the Wrong Direction

Jeffery Immelt, CEO of General Electric and in the running for King of Crony Capitalism (with Warren Buffet), now says that Obama is doing a poor job. He is afraid that big business is being vilified by the administration

I guess now that the green energy subsidies are drying up so is his support for the president.

Read More