The appointment of General Electric CEO Jeffrey Immelt to lead an economic advisory panel called the President's Council on Jobs and Competitiveness prompted talk show host Rush Limbaugh to suggest that President Obama may be involved in "serious insider dealing" with GE.
Limbaugh said Friday that the Obama administration expanded the Troubled Asset Relief Program (TARP) in order to bail out GE. "Congress needs to really look into this," Limbaugh said.
“A lot of people saying that this really needs to be investigated,” Limbaugh said on his Friday show. “General Electric and Obama are in bed with each other. General Electric got gobs of TARP money. They got stimulus money.
They don't need it. General Electric didn't need any of that money. General Electric has been in bed with Obama on this green energy garbage.
MSNBC, the NBC networks go green many weeks a year, with their graphics and all this other stuff.
“And they've used government money to create this green energy division that they have. And they're behind these compact fluorescent light bulbs,” Limbaugh continued. “They run NBC and MSNBC at a steep loss in order to give Obama his own cheerleading news network, and this CEO ends up on an advisory board now.
Limbaugh then added, citing a Washington Post story, "Let me summarize this [Washington Post] story for you. TARP was expanded by Obama for GE, which did not qualify as a bank. Remember, now, TARP was to bail out banks. TARP was expanded by Obama for GE, which didn't qualify as a bank. GE's bank became the top beneficiary of TARP funds. Jeffrey Immelt involved here."
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