Immelt’s consistent declarations about the company’s astute risk management and the dependability of his own management sharply contrasted with what the SEC was uncovering. Even some inside the company saw a culture that didn’t match Immelt’s spin that Capital was superior than the banks with which it competed because it was imbued with the “magic of management” for which GE was known. “Our financial services businesses are inherently more valuable than those of traditional banks or other financial services companies. Why? Because we have significant global origination in end-user markets that
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