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Ge To Sell Its Sub-prime Business

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GE to sell its sub-prime business

GE is arguably the most successful organization of its type; I’m surprised they have waited this long to get out.

I just tried to look up how much they paid for WMC in the first place back in 2004, "undisclosed sum" is all I could find. So we will maybe never know how well/badly they fared in their venture as lender of the last resort. I can understand their involvement in leasing in captial equipment and plant. Sub-prime synergies, none. Same goes for GM/GMAC. I doubt their involvement in this mess will do much to enhance their reputations much or indeed help their core activities.

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