William D. Cohan on the Rise and Fall of GE
Masters in Business
00:00
The Black Box of GE Capital
The SEC used the phrase accounting fraud, earnings manipulation and fine GE was at 230 million or 330 million for their earnings falsity under Jack Welsh. The financial crisis kind of revealed the black box of GE capital and suddenly the scales fell from the analyst size. Oh, it's a fabulous combination when it's working. There's no doubt about that. It's just telling people doing what you told people you were going to do. And if you do do it, they're going to love you.
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