Jeff Gerth, in his article writes:
One would think that "big" investors, such a Buffet and the mutual funds would also be concerned about the decline of General Electric since they are shareholders too. By now I would have expected them to have stepped in to "protect shareholder value". So far no visible action. I wonder why?
"As the financial crisis worsened toward the end of 2008, chief executive Jeffrey Immelt and other leaders at General Electric repeatedly assured the public there was no need to worry about the company's ability to access credit markets and refinance its massive debts as they came due.
But in private conversations that alarmed then-Treasury Secretary Henry M. Paulson Jr., Immelt laid out a different picture of GE's credit situation, according to Paulson's new book about the crisis."