Pursuits
GE Says Too-Big-to-Fail Exit Puts Stamp of Approval on Overhaul
- Lew: Finance unit made ‘fundamental strategic changes’
- Firm could seek acquisitions of up to $7 billion, analyst says
GE Capital CEO Sherin on Shedding Too-Big-to-Fail Label
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General Electric Co. isn’t too big to fail anymore. All it took was the most sweeping transformation in the company’s 124-year history.
The Financial Stability Oversight Council released GE from the designation as a systemically important institution, saying Wednesday that the industrial giant no longer poses a threat to U.S. financial stability. The decision came after the company agreed to sell almost $200 billion of lending assets since early last year.