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Friday, October 24, 2008

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?



1 comments

It's the least they could do.

By Blogger JSN, at 10/24/2008 5:04 PM  

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