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The Humbling of Big Finance
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This WSJ editorial says GE's decision to exit the banking business follows the U.S. Federal Reserve's move to designate GE Capital a "systemically important financial institution," subject to extra scrutiny by the Fed and stricter regulation. This reduces the potential for higher returns that existed in the earlier environment of limited regulation. It points out that GE was so keen on escaping the "too big to fail" label and stricter regulatory oversight that it was willing to pay $6 billion in taxes to repatriate cash from overseas as part of shrinking GE Capital. In an earlier editorial in 2011 WSJ pointed to the role of GE Capital in the financial crisis of 2008, when GE shares dropped to $6 and GE needed government rescue funds.
Electricity and Power Development in China.
04/29/2010
China's generation of electric power shiud surpass the USA's by 2012. With lowcost capital from state run banks and help from the government electricity gerneration is growing rapidly in China.
Grouped Articles
Wall Street Journal 06/06/2013
Economist 04/29/2010
Wall Street Journal 04/13/2015
China Fires Away at Coal Power
Wall Street Journal 05/14/2015
Wall Street Journal 07/18/2010
India Deal Puts China in GE's League
Wall Street Journal 10/28/2010
GE (General Electric) plans for GE Capital in 2015- getting out of the banking business
03/13/2015
GE CEO said Immelt said following GE's experience in the banking business during the 2008 financial crisis when its share price dropped to $6, that this is one he "had'nt got right." Moves in 2014 and 2015 including the acquisition of Alstom's business was designed to bring his legacy at General Electric to end on the right note, as one who focussed on GE's historic strengths, and getting out of banking.
Grouped Articles
GE Weighs Deeper Cuts in Banking Arm
Wall Street Journal 03/13/2015
Investor Group to Buy GE Capital’s Australia, New Zealand Consumer-Lending Unit
Wall Street Journal 03/16/2015
GE CEO Notes Banking Arm’s Weak Returns
Wall Street Journal 03/17/2015
GE Seeks Exit from Banking Business
Wall Street Journal 04/10/2015
Do-It-All Era Ending as G.E. Returns to Core
New York Times 04/10/2015
The Lessons for Finance in the GE Capital Retreat
New York Times 04/10/2015
GE (General Electric) plans to sell the GE Capital unit for Australia and New Zealand to private equity for $6.3 billion
03/16/2015
Grouped Articles
Investor Group to Buy GE Capital’s Australia, New Zealand Consumer-Lending Unit
Wall Street Journal 03/16/2015
GE CEO Notes Banking Arm’s Weak Returns
Wall Street Journal 03/17/2015
GE Seeks Exit from Banking Business
Wall Street Journal 04/10/2015
Do-It-All Era Ending as G.E. Returns to Core
New York Times 04/10/2015
The Lessons for Finance in the GE Capital Retreat
New York Times 04/10/2015
Wall Street Journal 04/13/2015
GE (General Electric) strategies
03/07/2012
Grouped Articles
Wall Street Journal 08/30/2013
GE to Exit Retail Lending, Tightening Focus on Industrial Businesses
Wall Street Journal 11/17/2013
GE Is in Talks to Buy Alstom's Energy Business
Wall Street Journal 04/25/2014
Stakes High for GE's Immelt in Alstom Fray
Wall Street Journal 04/28/2014
GE in Talks Over Selling Its Business in Appliances
New York Times 08/14/2014
GE Moves Further Away From Consumers With Sale of Appliances Unit
Wall Street Journal 09/09/2014
WSJ editorial on GE (General Electric) decision to exit the banking business in 2015
04/13/2015
Grouped Articles
Wall Street Journal 04/13/2015
Under Immelt, GE Was the Worst Performer in the Dow
WSJ 06/12/2017
GE Plans Wind Turbine Nearly Three Times as Tall as Statue of Liberty
WSJ 03/01/2018
G.E. to Spin Off Health Care Division as Part of Major Reshaping
New York Times 06/26/2018
Richard Fisher, president of the Federal Reserve Bank of Dallas, on the dangers of "too-big-to-fail" and systemically important financial institutions in 2012-2014
10/14/2012
Fisher says the situation has not changed from what it was in 2008, and Dodd-Frank legislation has left the situation entrenched with 5 banks controlling 61% of the country's financial assets.
Grouped Articles
GE Capital, AIG to Get More Government Oversight
Wall Street Journal 07/09/2013
Obama Presses Regulators to Finish Financial Rules
Wall Street Journal 08/20/2013
Weâre All Still Hostages to the Big Banks
New York Times 08/25/2013
Soothing Words on 'Too Big to Fail' But With Little Meaning
New York Times 12/11/2013
Fed’s Tarullo Reiterates Support for Raising “Systemically Important” Threshold
Wall Street Journal 03/20/2015
Wall Street Journal 04/13/2015
GE (General Electric) in the global financial crisis of 2008 with its share price down to $6.00 and overexpansion at GE Capital
03/07/2009
Grouped Articles
New York Times 03/07/2009
GE Is in Talks to Buy Alstom's Energy Business
Wall Street Journal 04/25/2014
GE Weighs Deeper Cuts in Banking Arm
Wall Street Journal 03/13/2015
Investor Group to Buy GE Capital’s Australia, New Zealand Consumer-Lending Unit
Wall Street Journal 03/16/2015
GE CEO Notes Banking Arm’s Weak Returns
Wall Street Journal 03/17/2015
GE Seeks Exit from Banking Business
Wall Street Journal 04/10/2015
GE (General Electric) plans to acquire Alstom's energy business to reduce dependence on GE Capital for earnings
04/25/2014
Shareholders are pressuring GE to reduce its dependence on GE Capital for earnings since the days of the 2008 financial crisis. The move to acquire Alstom's energy unit helps GE accomplish this.
Grouped Articles
GE Is in Talks to Buy Alstom's Energy Business
Wall Street Journal 04/25/2014
France's Hollande Meets With GE, Siemens Chiefs About Alstom
Wall Street Journal 04/28/2014
Stakes High for GE's Immelt in Alstom Fray
Wall Street Journal 04/28/2014
GE Heads to Paris to Save Alstom Deal
Wall Street Journal 05/16/2014
GE-Alstom Deal: French Fear Losing Control of Nuclear Assets
Wall Street Journal 06/14/2014
France Lifts Hurdle to GE-Alstom Deal
Wall Street Journal 06/24/2014
GE Capital (General Electric)
03/07/2009
Grouped Articles
GE to Exit Retail Lending, Tightening Focus on Industrial Businesses
Wall Street Journal 11/17/2013
New York Times 03/07/2009
GE Is in Talks to Buy Alstom's Energy Business
Wall Street Journal 04/25/2014
GE Weighs Deeper Cuts in Banking Arm
Wall Street Journal 03/13/2015
Investor Group to Buy GE Capital’s Australia, New Zealand Consumer-Lending Unit
Wall Street Journal 03/16/2015
GE CEO Notes Banking Arm’s Weak Returns
Wall Street Journal 03/17/2015
Jeffrey Immelt, CEO of GE (General Electric)
03/03/2015
Grouped Articles
Jeff Immelt’s Overhaul of GE Impeded by Falling Oil Prices
Wall Street Journal 03/03/2015
Wall Street Journal 04/13/2015
Jeff Immelt to Step Down as CEO of GE; John Flannery Takes Role
WSJ 06/12/2017
Under Immelt, GE Was the Worst Performer in the Dow
WSJ 06/12/2017
A Stagnant General Electric Will Replace the C.E.O. Who Transformed It
The New York Times 06/12/2017
G.E. to Spin Off Health Care Division as Part of Major Reshaping
New York Times 06/26/2018
The U.S. Federal Reserve's Daniel Tarullo on "too-big-to-fail" and systemically important financial institutions- 2012-2015
06/16/2011
Grouped Articles
Debating Dodd-Frank: Is 'Too Big to Fail' Gone?
Wall Street Journal 07/21/2011
GE Capital, AIG to Get More Government Oversight
Wall Street Journal 07/09/2013
The Power Behind the Throne at the Federal Reserve
New York Times 07/31/2013
Fed Boosts Pressure on Banks Over Capital Levels
Wall Street Journal 08/20/2013
Weâre All Still Hostages to the Big Banks
New York Times 08/25/2013
Soothing Words on 'Too Big to Fail' But With Little Meaning
New York Times 12/11/2013
Thomas Hoenig and other experts on the "too big to fail" banking crisis that hovers over the U.S. economy
09/23/2010
Former Fed Governor of the Kansas City Federal Reserve Bank for 20 years, Thomas Hoenig, has followed Fed policy over a long period. He has maintained throughout that government backing takes away an essential element in the safe and conservative practices of financial institutions by encouraging the taking of excessive risks. The only way to ensure their safety is for creditors to know they bear serious risks and for the systemically important financial insitutions to know that not following safe financial practices can put these institutions and management out of business.
Grouped Articles
GE Capital, AIG to Get More Government Oversight
Wall Street Journal 07/09/2013
Weâre All Still Hostages to the Big Banks
New York Times 08/25/2013
Soothing Words on 'Too Big to Fail' But With Little Meaning
New York Times 12/11/2013
BusinessWeek 09/23/2010
Wall Street Journal 05/01/2013
Banks Ordered to Add Capital to Limit Risks
New York Times 04/08/2014
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