General Electric said Wednesday that the federal government had agreed to insure as much as $139 billion in debt for its lending subsidiary, GE Capital. This is the second time in a month that G.E. has turned to a federal program aimed at helping companies during the global credit crisis.Another link from Gateway Pundit with regards to coverage of weekend Tea Party coverage. This time they refer to CNN as "state-run" media.
“Inclusion in this program will allow us to source our debt competitively with other participating financial institutions,” Mr. Wilkerson said.
The F.D.I.C. program covers about $139 billion of G.E.’s debt, or 125 percent of total senior unsecured debt outstanding as of Sept. 30 and maturing by June 30.
G.E. sent investors an e-mail letter about the program on Wednesday and posted the letter on its Web site. “Our participation is a positive development for our investors,” it said.
G.E.’s finance businesses are able to seek F.D.I.C. debt coverage because its GE Capital subsidiary also owns a federal savings bank and an industrial loan company, both of which already qualify.
You know I think I get it. What was once the MSM (mainstream media), or the "liberal" media, is today referred to as either the state-run media or Rush Limbaugh often likes the term "drive-by" media.
I think it has been ingrained in my mind that the news media is biased. At the same time there are aspects of the media I don't particularly care for. For instance I noted a while back that while watching Glenn Beck when he was on Headline News that I really didn't like the direction of that network. It was attempting to be more like FOX News instead of the dry news channel that I was more familiar with.
I do understand that things are often in flux. That is entities have to adjust in order to stay relevant or profitable, but when I watched Headline News on that day I was really disappointed.
What I will say for certain is that I believe the media is in some ways partial. Of course the networks referred to in those two blogs are networks that may perceptibly be in opposition to the Republican Party. While FOX News is often perceptibly in opposition to the Democratic Party. Of course you may view these biasesthrough your own political visions whatever they may be.
It hits me that I often watch FOX News more than any other news channel. I stopped watching CNN when they stopped producing Inside Politics. I rarely even fix my eyes on MSNBC anymore. I really liked this show hosted by then correspondent Soledad O'Brien called The Site. If I watch anything that isn't aired on FOX News it would likely be 60 Minutes!