Support the Fed!

Via Floyd Norris:

It was yesterday that General Electric said it would borrow through the Federal Reserve’s new credit facility when it opens for business next week.

Bloomberg quotes a G.E. spokesman as follows: “This is our way to demonstrate our support for what the Fed is doing, which is providing all around liquidity.”

GE is quite the noble corporate citizen, isn't it?


posted by Quiddity at 10/24/2008 12:37:00 PM