From Clusterstock:

If you want a clear sign that we've lost control of the bailout of the financial sector, look no further than the news that General Electric has been approved to take itself out of the US government-backed debt program.

Under the program—which is officially known as the Temporary Liquidity Guarantee Program—GE has borrowed billions of dollars insured by the FDIC. The upper limit of the guaranteed debt was an astronomical $126 billion. Now it's being brought down to $75 billion.

So does this mean taxpayers are off the hook? Hardly...

Read full article...

More on GE and their special gov't ties:

Backdoor deal allows GE to gorge itself at government trough

Porter Stansberry predicts the next major company to go bust

Former GE chief Jack Welch calls Bernanke and Hank Paulson "heroes"