CHART: General Electric Profits
A few notes on Jack Welch and criminal behavior by GE under his helm.
Anyone else pound their head against a wall when Welch complained about BLS manipulation in Friday's jobs report? Welch wrote the book on cheating.
After the 2000 crash, we learned of earnings manipulation and accounting gimickry inside GE. GE Capital acted as an opaque leveraged hedge fund that always could be counted on to help GE beat by a penny. GE eventually settled accounting fraud charges with the SEC.
Welch with Anderson Cooper discussing his BLS comments: