[mEDITate-OR:
see that consumer credit co's like GMAC and GE Capital...
who jumped into the RE bubble in a very big way...
bcuz they could make FAR more quick money there
than financing cars and appliances as they had been for years.
They made big money, and they now are loosing big money.
You and U.S. bailed out GMAC, so GM and Chrysler could keep selling cars.
Now, both of them are cutting back, returning to their core business.
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GE Capital to shrink real estate holdings
General Electric's finance arm plans to cut its holdings of commercial real estate by half as part of a broader shrinking of the lending division
reducing its portfolio of office buildings and other commercial properties to about $40 billion, down from the current $80 billion
reducing its portfolio of office buildings and other commercial properties to about $40 billion, down from the current $80 billion
the division that once made up about half of GE's overall income.
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