Henry Blodget, writing for Yahoo's TechTicker, suggests that GE might survive, or might not. It's very possible, of course, that GE will get bailed out by Uncle Sam--that would explain the adoring coverage of the Obama administration on MSNBC in particular. Here's Blodget, in his own words:
Tim Geithner and Jeff Immelt meet in some secret back room and hash out a plan whereby the taxpayer backstops GE Capital's losses and the western world is saved. Something tells us that this one won't go over too well. The public has already had it with bailouts and Geithner, and the idea of bailing out a company that still throws of tens of billions of dollars of cash a year from an industrial business might be the last straw.
And Blodget, always a contrarian, puts at least some of the blame on Jack Welch, who retired back in 2001. TCG finds that a little strange, but then, these are strange times.
