General Electric was fined $50 million for lying to their investors in 2002-2003. This fine cam AFTER 4 years of investigation and $200 million in legal fees.
And, as of today there are ZERO CRIMINAL CHARGES pending. What is worse….the investors who were lied to, ultimatly end up paying for the $50 million fine and $200 million legal fees.
I am sure on some planet that is fair…….Doesn’t GE own the awful cable network MSNBC? I suppose their lying ways is not a shocker now, huh?
Regulators accused General Electric of overstating profits by as much as $1.15 billion in a bid to keep alive its once-stellar record of never reporting a loss for more than a decade — and always hitting analysts’ predictions.