GE’s WMC Mortgage Unit, Felled By Financial Crisis, Files Chapter 11 Bankruptcy
Reuters, Apr. 23, 2019–Jonathan Stempel
General Electric Co on Tuesday put the remnants of its WMC Mortgage unit into bankruptcy, 11 days after paying a $1.5 billion U.S. fine over defective subprime mortgages issued by WMC before the 2008 financial crisis.
