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Goldman, GE, GM Invite Us to Play a Rigged Game


  You can see it all over. Nobody who knows anything about General Electric Co. actually believes it's a AAA credit. And yet the raters at Moody's Investors Service and Standard & Poor's continue to give GE their highest mark.
Meanwhile, the company just landed government insurance for as much as $139 billion of debt for its lending arm, GE Capital Corp., which also is rated AAA. If GE were really that strong, it wouldn't need the help.
At American International Group Inc., the $150 billion ward of the Treasury Department, management had the audacity to claim in the company's latest quarterly report that it "believes it will have adequate liquidity to finance and operate AIG's businesses.'' In other words, AIG's executives are counting on a blank check from the government, should the money run out again
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      Sursa:                                                 20 november 2008 






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