I am sure he said that, but what else is he going to say? Here is what GE had to say,
GEC with businesses that span real estate, consumer finance,* aerospace, energy equipment, media and health care, has talked with leaders in the House to express support for the bill. The Fairfield, Connecticut-based, company last week reduced its 2008 profit forecast for the SECOND time this year, believes relief needs to be injected into the system. General Electric CEO said, “Business officials expected the bill to pass, even with government leaders predicting a tight vote. That's why companies didn't speak up sooner about how important the legislation was. “I absolutely cannot believe it; I don't think the House knows what they're doing. We need this, the markets are frozen, banks are being taken over -- it's a crisis. I think they're leaving it in the lurch and going on a break.'' *GE’s consumer finance is particularly parasitic short-term personal finance with extremely punitive charges for overdue payments and defaults. On Oct 8, 5:05 am, rigsy03 <[EMAIL PROTECTED]> wrote: > Howleluiah, Lone Wolf!!! He also believes in the company which is why > individuals invest in a company. (Charlie Rose interview last week) > > On Oct 7, 6:53 am, "\"Lone Wolf\"" <[EMAIL PROTECTED]> wrote: > > > Buffet is fighting for his own survival which is tied to the to the > > preservation of the system. The CEO of GE was furious when the the > > bailout wasn't passed because GE relies on short term money markets > > to function. Buffet is not making an investment, he is providing > > liquidity to keep them operating. > > > On Oct 7, 9:56 pm, rigsy03 <[EMAIL PROTECTED]> wrote: > > > > Warren Buffett just invested 3 billion in GE's common stock- Oct.2 > > > =another option for sound companies. > > > > On Oct 6, 1:54 pm, "\"Lone Wolf\"" <[EMAIL PROTECTED]> wrote: > > > > > Big Companies such as Microsoft and GE have said before the bailout > > > > was approved that they risk insolvency if a credit crunch sets in, > > > > there will be no money to buy back shares. > > > > > On Oct 7, 5:19 am, rigsy03 <[EMAIL PROTECTED]> wrote: > > > > > > This could be a bonus for sound companies- they should start buying > > > > > back their own stock. > > > > > > On Oct 6, 1:06 pm, "\"Lone Wolf\"" <[EMAIL PROTECTED]> wrote: > > > > > > > The tumultuous events of today augur in the complete meltdown of the > > > > > > world economy, markets will continue to spiral out of control as > > > > > > they > > > > > > open across the world following another Wall St collapse. > > > > > > > The 2008 US presidential election has already been rendered > > > > > > meaningless before it has even been held, because any prospect of > > > > > > social programs is now to be shelved. Rather, an amount equivalent > > > > > > to > > > > > > $2,300 for every man, woman and child in the US is to be transferred > > > > > > to the wealthy. One of the first questions asked by the moderator in > > > > > > the first presidential debate was: which government programs are you > > > > > > advocating be cut back in view of the bailout plan? All were agreed > > > > > > there would have to be cuts—that was accepted, a given. > > > > > > > The American ruling class cannot carry out its program > > > > > > democratically, > > > > > > and therefore we see, in the measures proposed by Treasury Secretary > > > > > > Paulson, the sinews of a dictatorship. > > > > > > > The initial text sent to the Congress, supposedly the legislative > > > > > > body > > > > > > with oversight over expenditures, was barely three pages long—less > > > > > > paperwork, one commentator noted in the New York Times, than was > > > > > > required for a subprime mortgage! > > > > > > > According to the initial text, among the powers available to the > > > > > > Treasury secretary, “without limitation,” will be “designating > > > > > > financial institutions as financial agents of the government” able > > > > > > to > > > > > > perform “all such reasonable duties related to this Act.” This means > > > > > > that the same financial institutions that engaged in the speculative > > > > > > and, in some cases, outright criminal activities that led to the > > > > > > crisis, are to be called on to help the Treasury organise the > > > > > > bailout. > > > > > > As a recent article on the WSWS noted, the term “conflict of > > > > > > interest” > > > > > > does not even begin to cover what is taking place. > > > > > > > Moreover, the plan provides for legal immunity for the Treasury. > > > > > > “Decisions by the secretary pursuant to the authority are non- > > > > > > reviewable ... and may not be reviewed by any court of law or any > > > > > > administrative agency.” > > > > > > > As an article in the New York Times of September 23 pointed out, > > > > > > with > > > > > > these words “the Treasury secretary—whoever that may be in a few > > > > > > months > > > > > > —would be vested with the most incredible powers ever bestowed on > > > > > > one > > > > > > person over the economic and financial life of the United States. It > > > > > > is the financial equivalent of the Patriot Act, after 9/11.” The > > > > > > Times > > > > > > described Paulson’s proposed legislation as “the most amazing power > > > > > > grab in the history of the American economy.” > > > > > > > A long established axiom of economics and politics holds that in a > > > > > > crisis, real relations are laid bare, as the accidental and the > > > > > > inessential are stripped away. And this is the case in this crisis. > > > > > > Not government of the people, by the people and for the people; not > > > > > > the “free market” in which the decisions of millions of people > > > > > > determine economic outcomes; but government of, by, and for the > > > > > > wealthy. Not democracy and a land of laws, but a dictatorship of > > > > > > finance capital. > > > > > > > The wars of plunder launched by American imperialism in Afghanistan > > > > > > and Iraq, the aim of which is to control oil and other resources in > > > > > > the interests of US finance capital, are now being openly fought on > > > > > > the home front. They will be accompanied by a deepening of the > > > > > > assault > > > > > > on democratic rights, initiated in the so-called “war on terror.” > > > > > > > This is where the American working class and the working class > > > > > > throughout the world will come forward and perform their historical > > > > > > destiny and clear away the old order auguring in a new and wondrous > > > > > > future for all mankind- Hide quoted text - > > > > > - Show quoted text -- Hide quoted text - > > > - Show quoted text - --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. 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