4min chapter

We Study Billionaires - The Investor’s Podcast Network cover image

TIP527: The Epic Collapse of GE w/ William Cohan

We Study Billionaires - The Investor’s Podcast Network

CHAPTER

I Have a Triple-a Credit Rating and I Have an Obligation to Do That if There's a Hiccup Along the Way

Jack Welch: GE is like the biggest company in the country and i have a responsibility to make sure that i do what i say i'm going to do every quarter. He says if I don't do that my credibility is lost with investors, Wall Street research community and he needs all of that for his job. Welch: It's not just an industrial company for better or for worse but it's also a financial services company which Jack has intentionally created and allowed to grow by arbitraging our triple-a credit rating borrowing short and lending long. You know as he told me that's a lot easier to make money in that business than it is to make a jet edge so i have

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