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April 13, 2015

The Lessons for Finance in the GE Capital Retreat

More than 10 years ago, the kinds of investors who seek out weak companies were circulating presentations on Wall Street that argued that General Electric’s enormous lending business was a ticking time bomb.

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“G.E.’s decision today shows that some of the financial reform measures regulators have taken are working,” Dennis Kelleher, the president of Better Markets, a group that has often asserted that the overhaul is inadequate, said in a statement. “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 like in 2008.”

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Read the full New York Times article by Peter Eavis here.

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