WASHINGTON — General Electric said Friday that it will sell off most of its financial operations, in what will be the most dramatic restructuring of the American banking system yet effected under the 2010 Dodd-Frank Wall Street reform law.
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“GE’s decision today shows that some of the financial reform measures regulators have taken are working: firms that threaten America’s financial system – like Wall Street’s too-big-to-fail banks – have to be made to bear the costs of their risky business so taxpayers don’t have to pay the bill when their risks explode,” Better Markets CEO Dennis Kelleher said in a written statement.
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Read the full Huffington Post article by Zach Carter here.
