Bankruptcy- Disaster imminent... GE hiding $40-$45 billion in losses

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Disaster imminent... GE hiding $40-$45 billion in losses

Friday, April 10, 2009
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From Clusterstock:

GE (GE) gave a presentation a few weeks ago designed to calm investors' fears that the company's huge financial services division, GE Capital, is just another Bear Stearns with a friendly logo. The presentation helped, and GE's stock has recovered some of its horrific losses. As of this morning, it's back above $11 (down from $40+ 18 months ago).

Some investors, however, are not convinced. The inimitable Steve Eisman of FrontPoint Partners, for example, who was immortalized last year in Michael Lewis's article about the end of Wall Street, detailed his thoughts about GE at Jim Grant's annual conference a few days ago.

Read full article...

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Topics:		Bankruptcy \| Bailout \| Stocks

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