Back on the Street

摘要

On august 20th credit-raters at Fitch warned of insufficient financial reserves against the costs of long-term care for buyers of insurance products at General Electric. Days earlier Harry Markopolos, an accounting investigator, alleged inadequate provisioning of reserves in GE's insurance division and improper accounting of its Baker Hughes petroleum holdings. This, claimed the corporate sleuth, who shot to fame by uncovering Bernard Ma-doff's Ponzi scheme, may dig a $38bn hole in the industrial conglomerate's books. Its share price fell by 11% in response.