FILE PHOTO: The logo of U.S. conglomerate General Electric is pictured at the company's site of its energy branch in Belfort, France, February 5, 2019. REUTERS/Vincent Kessler/File Photo
The U.S. Department of Justice on Friday said the accord resolves claims that GE concealed the poor quality of the loans and WMC’s lax fraud controls when packaging the loans into residential mortgage-backed securities sold to investors.
In the movie to Big to Fail, they are portrayed as innocent engineering company that finds itself caught in the Wall Street mess that had nothing to do with them.
How is GE not trying to recoup money and pension from Immelt and his flunkies? CNNBusiness business nypostbiz
So, GE generated 65 billion from the scheme, (paid no fed tax in 2018), and the DOJ levies a 1.5 billion fine. That is not even close to a deterrent. How much of that 1.5 billion does the DOJ get?🙄
They also need to clean the Hudson River