GE Symbol of What is Wrong with US Corporates

GE financials are about tax arbitrate (tax fraud).

Obama Picks Jeffrey Immelt, GE CEO, To Run New Jobs-Focused Panel As GE Sends Jobs Overseas, Pays Little In Taxes: "In 2009, the Connecticut-based firm effectively had a negative tax rate, thanks to the $498 million loss it booked on U.S. operations versus the $10.8 billion in earnings it booked abroad. GE realized a $1.1 billion tax benefit in 2009.

In 2008, it paid $1.1 billion in taxes for a 5.3 percent tax rate. In 2007, it paid $4.2 billion in taxes for a 15.1 percent tax rate."