6min 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

G E Capital - The Golden Goose of Student Loans

G e capital was at once a golden goose that later became an albatross of sorts. Jeff McKinsey ignored advice given to him by Michael Prolly who was running the real estate business and told him to sell it in 2007 when he had lined up Goldman Sachs to help with the sale. McKinsey now here says you know this real estate bubble is going to continue for the foreseeable future. He also talks about his time as head of credit card giant American International Group, which has since been taken over by JPMorgan Chase.

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