Thursday, September 25, 2008

another one bites the dust

GE’s leverage problem

General Electric (GE) is the latest levered-up financial company to hit the wall.

Posted by mark @ 01:52 PM (652 views)
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One thought on “another one bites the dust

  • The Financial Services Authority has fined GE Money Home Lending £1.12m after 684 borrowers suffered financial loss in excess of £2.3m before redress was paid. This is the first time the FSA has fined a mortgage lender in relation to its lending processes. Full details http://www.mortgagestrategy.co.uk/cgi-bin/item.cgi?id=173634&d=403&h=401&f=402

    Might pay the FSA to claim their fine ASAP before GE potentially go the way of Lehmans etc…..

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