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Hilander

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Hilander

Re: Hilander post# 222

Sunday, 07/29/2007 4:43:44 PM

Sunday, July 29, 2007 4:43:44 PM

Post# of 2236
GE Loses Taste for Sub-Prime Lending:

By David Litterick in Chicago
Last Updated: 1:58am BST 14/07/2007

Sub-prime Q&A
General Electric is getting out of the sub-prime mortgage business after one of its subsidiaries was severely burnt by the crisis playing out in the industry.

GE, which made the announcement alongside a near 10pc increase in quarterly profit, said it had charged Morgan Stanley to find a buyer for its WMC Mortgage unit which lends money to sub-prime borrowers.

Full Story:
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/07/14/cnge114.xml


Beware Bull's Ready to Run - Before investing $ do your own dd. All posts are my opinion.

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