The big banks don’t do well during the early stages of recession. Even though the big banks have handed most of the mortgages they have originated off to the packagers, they’ve kept enough mortgage debt on their books to cause them trouble when defaults begin to rise. Other lines – auto, business, and personal loans, and investment banking and securities trading – all depend on consumer willingness to borrow and/or market’s appetite for more structured finance deals. GE capital has become one of the world’s largest banks.--- Send in a voice message: https://podcasters.spotify.com/pod/show/david-nishimoto/message