GE holds about $5.3 billion in residential mortgage-backed securities as of June 30, down from $5.8 billion at the end of the first quarter.
GE also reduced its commercial mortgage-backed securities to $2.7 billion, down from $2.8 billion held as of March 31. The company also said it reduced its exposure to subprime credit in its residential mortgage-backed securities to $1.7 billion from $1.8 billion in the first quarter.
It's impossible to gauge the true value of underlying assets because almost all major companies dabbled in complex financial instruments--this is one reason markets are so volatile.
One tip: if you're driving to Mexico from California with a rental car, consider buying GE insurance. Your California insurance does not typically cover liability in Mexico: