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Maybe a lot worse than you think.  Maybe a lot worse than I thought. Unfortunately, it’s looking more and more like GE might have to  spin off its finance unit.  Jeff Immelt is not Jamie Dimon.  Heck, I don’t even know if Jamie Dimon is the great banker that everyone thinks he is.  One thing is for sure:  GE finance is sinking the greatest corporation in this country.  It’s time for GE to get back to its core businesses and get out of the banking business.  Spinning GE Finance off into a bank holding company (as GS and MS did) could be the best long-term strategy GE can devise.

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