1. How the Man Who Nailed Madoff Got GE Wrong

    How the Man Who Nailed Madoff Got GE Wrong

    Accounting sleuth Harry Markopolos believes GE is engaged in accounting fraud so vast that the storied conglomerate will soon be forced into bankruptcy. Markopolos was the lone person to sound the alarm on Bernie Madoff's Ponzi operation, and gained fame and credibility by turning out to be spectacularly right, raising fears he could be right about GE as well...

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    1. This is market manipulation, pure and simple.
    2. When an insurer has a deficiency, the insurance regulator may allow it to make it up by adding cash to its portfolio over several years.
    3. Nothing in that FASB rule requires that STAT and GAAP be the same.
    4. But the FASB rule won't cause any charge to earnings for insurers.
    5. That money has to come from cash from operations.
    6. If you're an investor, you want to think about the prospects for the core business, you want the money to go into places that make money such as jet engines or medical equipment, not a place where you get no return.
    7. I have to believe they can turn around the industrial side.
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