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1/29/09

NBC Connections To Tax Cheat Geithner; Benifits From Bailout

General Electric (owner of NBC News, CNBC, and MSNBC) chairman Jeffrey Immelt is on the board of the New York Federal Reserve, headed by Timothy Geithner. Furthermore, the federal government promised $139 billion to GE Capital, the same fed under recent Treasury Secretary Geithner. Conflict of interest much?

As we know, Geithner got caught cheating on his taxes big time. Not only that, he lied about it at his confirmation hearing when he blamed the problem on TurboTax. Yet the heavily Democrat Senate Finance Committee endorsed Geithner 18-5, much to NBC's praise. On Thursday, Art Cashin of CNBC claimed that the stock market was crashing because the Senate wasn't confirming Geither quickly enough.

When GE received its loan, NBC failed to report that GE was its parent company.

Jim Cramer of CNBC was slower to support Geithner, condemning his tax cheating at first. But eventually he came around, quoting his "Wall Street buddies" who say "Jim, he’s the greatest."

More on the great media swindle at Worldtribune

Also, don't expect NBC to admit Geithner's appalling misunderanding of currency conversion.

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