You can see right in today.
So you CAN'T BELIEVE a WORD of what BUSINESS and BANKS SAY, huh?
"GE to pay $50m to settle charges it cooked books" by Stephen Manning, Associated Press | August 5, 2009
WASHINGTON - General Electric Co. will pay a $50 million civil penalty to settle charges by the Securities and Exchange Commission that the conglomerate used improper accounting in order to make its financial results appear more attractive to investors.
It's called LYING!!
Related: Bank of America Gets a Love Tap For Looting
And I'm wondering whether $50 million is enough; HOW MUCH did YOUR PENSION SUFFER because of these LIARS, America?
The SEC said yesterday that GE violated US securities laws four times between 2002 and 2003 when accounting for items like commercial paper funding and the sale of train locomotives and aircraft engine spare parts. The SEC said the changes helped GE post a string of earnings reports that beat Wall Street expectations each quarter from 1995 through 2004.
You mean, like the BANKS and BUSINESSES today?
“GE bent the accounting rules beyond the breaking point,’’ said Robert Khuzami, head of the SEC’s enforcement division, in a statement. GE, based in Fairfield, Conn., does not admit to or deny the allegations, but said in a statement that it corrected its financial statements during SEC filings made between 2005 and 2008.
Oh, well, then everything is okay?
GE said two of the violations outlined by the SEC were intentional, but that the other two were negligent errors by company officials....
Pffffttt! They sound like a LYING LITTLE ADOLESCENT there, don't they?
GE said it turned over 2.9 million pages of documents and spent $200 million in legal and accounting fees over the course of the more than four-year investigation into its accounting practices....
So? Are we supposed to be feeling SORRY for THEM?!!!
This is what passes for "journalism" in Amerika?
No wonder they are cratering.
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