GE shares continue rebounding following more detailed response to fraud investigator
believes it has sufficient reserves for it's long-term care insurance business and that it's consolidated financial statement for its investment in Baker Hughes was proper.
Markopolos, who uncovered Bernie Madoff's scheme, accused GE of not having sufficient reserves for its long term care business and not properly accounting for losses at Baker Hughes. He called GEThe stock has regained much of its losses on Friday, but it was down slightly on Monday morning.
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