GE CEO Jeffrey Immelt Blames Lack of Tax Liability on the Wall Street Meltdown (Video)

CNBC plays a clip of Immelt at the Economic Club in Washington a short time ago saying "The reason our tax rate is low in 2009-2010 is simple, we lost $32 billion in GE capital as a result of the financial crisis." Erin Burnett has tax numbers on GE

CNBC's John Harwood discusses GE's CEO, Jeff Immelt, breaking his silence on the company under fire for its paltry 2010 tax bill, with Peter Morici, University of Maryland's Smith School of Business