GE Bails Out of Sub-Prime Market

(via Reddit)

General Electric (GE), the US conglomerate, confirmed today that it is offloading its sub-prime mortgage business as American-based banks increase the number of foreclosures (or repossessions) on homeowners with a poor credit history.

Filed under 9. Corporate Power is Protected Business

Posted by Andy on Jul 15 2007 at 08:57pm. Permanent link to this post.

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One Comment

  1. JB
    Posted Jul 16 2007 at 02:50pm | Permalink

    And so the avalanche progresses…

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