GE Joins the Pain Parade

GE, mom and apple pie all cut numbers this morning for the quarter and year, citing generally weaker conditions. GE also laid out plans to further tighten up its balance sheet.

The futures, which were up for the morning, have erased their gains.

Can you get any more Main Street than GE?

If you are an active market participant you should make 2 lists:

1. Stocks you would buy if the plan passes in its entirety (GE may be a good example - their problems appear to be entirely due to credit-related conditions)
2. Places you can hide if it doesn't