Friday, Jul 13, 2007
Lets hope so
bloomberg.com: GE Plans to Seek Buyer for Subprime Mortgage Unit
General Electric Co. plans to sell its three-year-old U.S. subprime mortgage unit, the company said in an e-mail to employees.
``The mortgage industry has greatly changed since the purchase of WMC,'' Laurent Bossard, chief executive officer of the division, said in the memo to employees today. ``The current subprime market environment has made a significant negative impact on the business.''
Posted by chris @ 02:48 AM (154 views) Add Comment
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