http://money.cnn.com/2018/05/02/investing/ge-subprime-mortgage-bankruptcy-wmc/index.html
Why on earth was this not discussed at the recent earnings call and shareholder / board meetings.
Yeah, GE announced they put money aside for the potential fines but there was no mention of GE WMC division filing for bankruptcy. Is this a game GE is playing to send a warning shot the regulators? Fine me is massive way and I will just file for bankruptcy. Didn't the government provide support GE during this financial crisis. The government did not force GE to get into this money making scheme in the first place. The smoke and mirrors just continue for GE these days and the supposed settlement with regulators. Desperate times require desperate actions I guess. Glad I do not work for these idiots anymore!