I quote the S&A Digest from the Desk of Porter Stansberry, today for lettin us know that John Corzine who just ran MF Global into bankruptcy gets “…around $12.1 million in severance, according to the New York Times’ business blog, Dealbook.”
With MF Global one of the first victims of the European debt crisis, what :troubled company” is next? Stansberry thinks it’s GE!
About 20% of GE’s commercial real estate holdings are in euro nations â€“ about $16 billion in total exposure. And 50% of GE’s consumer finance business (mortgages and credit cards) is euro-based. That’s $71 billion in total exposure. Plus, you can add to that another $40 billion in European commercial loans and leases (mostly aircraft).