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GE: Hey, We Really Don’t Want to be Part of Financial Reform

Over to you MSDNC. Why is your parent company obstructing the Obama agenda? The company of “no?”  Washington Post:

A last-minute fight has emerged over a proposed amendment to the Senate’s financial regulation bill that would limit the government’s power to address high-risk financial practices at companies if their main business is manufacturing.

The amendment, which the Senate might vote on early this week, could make it difficult for federal regulators to address threats to the global financial system posed by such companies as the industrial giant General Electric, which extends tens of billions of dollars a year in customer loans through a subsidiary.

In recent days, GE and other manufacturers have ramped up their efforts to draw attention to how the Senate legislation affects industrial companies. GE has been discussing its concerns with other manufacturers, trade associations, lawmakers and their staff, a company spokesman said.

The rest here.

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