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GE Open to Using Bailout Money For Lending Arm
Topics:Stock Picks | Stock Market | Corporate News
Companies:CIT Group Inc | General Electric | Companies
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General Electric does not expect the Treasury Department to offer to invest funds from a $700 billion fund to bail out the financial industry in its GE Capital arm, but would listen to a proposal if one were made, a GE [GE
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"This is not something we expect," said Russell Wilkerson, a spokesman for the U.S. conglomerate and parent company of CNBC.com. "If it were offered, we would evaluate it."
The Wall Street Journal reported Tuesday that the Treasury was considering investing funds from the $700 billion rescue program in a wide range of companies, including GE Capital and CIT Group [CIT
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Copyright 2009 Reuters. Click for restrictions.
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