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So GE had an eventful day
In that its stock dropped more than 11% after Harry Markopolos, the whistleblower who warned the SEC about Madoff years before his fraud was exposed, accused the company of massive fraud:
GE chief executive officer Larry Culp dismissed the claims, calling them “market manipulation—pure and simple.” That wasn’t enough to stanch the bleeding, though, as shares plunged to $8.01 at the close. “The short report accurately depicts a GE culture that historically hid losses and deceived investors,” Scott Davis, an analyst at Melius Research, wrote in a note to clients. “GE has no credibility at all in responding to the report today as inaccurate. The truth is GE is using a set of assumptions, the short report uses another. We don’t know where the truth lies.”
Cue an incomprehensible attack against Mexico
In 3. . .2. . .1: