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Serious question - how did GE Money profit from the sub-prime

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malaise Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Aug-27-08 08:29 AM
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Serious question - how did GE Money profit from the sub-prime
mortgage crisis?
http://www.transparencyinsport.org/snipers_guide(page1).html

<snip from page 4>

IN ONE of the most comfortable seats is friendly Jeff Immelt. They like Jeff because he’s paying a lot towards the cost of the sacred spectacle. He’s the super-boss of the General Electric conglomerate who can afford to sponsor the Olympic brand because GE Money has made a killing out of sub-prime mortgages.

GE also own the NBC-TV network that interprets the sacred games to America. They also have their own IOC member, Alex Gilady. Jeff may privately be unhappy about the IOC’s calls for an Olympic Truce during the event. They make the engines for many of the warplanes doing a lot of killing in Iraq; a truce would be bad for business.



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