Replies to post #555101 on Zeev's Turnips Patch-No Politics (ZEEV)

[federal reserves]

GE Plans to Seek Buyer for Subprime Mortgage Unit (Update1)

By Rachel Layne


The GE building in New York July 12 (Bloomberg) -- General Electric Co. plans to sell its three-year-old U.S. subprime mortgage unit, the company said in an e-mail to employees.

``The mortgage industry has greatly changed since the purchase of WMC,'' Laurent Bossard, chief executive officer of the division, said in the memo to employees today. ``The current subprime market environment has made a significant negative

> what if they can't dump it?

[qwave]

And why did they rise and what did the BOJ do?