Dudes, granted GE capital may have massive exposure to swaps that they haven't disclosed, but Immelt claims no.
Their stock is at $7 and they just cut their dividend to $0.40 from $1.24. This is bad news if you owned their stock but ... $7 for GE??? OMG. This is a fire sale. Now what does GE say about all the shorting? "As for credit default swaps, [CEO Immelt] said investors can force substantial price moves by spending 25 million bucks in a handful of transactions in an unregulated market. I just dont think we should treat credit default swaps as like the Delphic Oracle of any kind. Its the most easily manipulated and broadly manipulated market that there is. Meaning he thinks the stock price is too low, but investors are worried about huge Bear-Stearns type risk. So ... "GE scheduled what it calls a deep dive meeting to explain GE Capitals liabilities for the week of March 16. " CONCLUSION: Who feels lucky? If GE comes out of that meeting making investors feel comfy that stock will jump and from there it's only going up. But remember, I'm really just guessing about all of this and just thought of it 10 minutes ago based on zero re ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;207172674;29440083;f Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:291134 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5
