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IN ITS 123-year history General Electric has proved itself handy at making things. GE invented the light bulb, the electric fan and the toaster. It is one of a handful of firms that can build nuclear reactors and jet engines. In the past two decades, however, it has created a monster: its own bank. It was America’s fifth-biggest lender at its peak in 2008, just before it stumbled and Wall Street crashed. Now Jeffrey Immelt, GE’s boss, wants to close it down for good. The end of GE’s struggle with big finance is a landmark for American capitalism that holds lessons for firms, banks and regulators.GE’s diversification from electrical to financial engineering began by accident in the 1980s. “We never had a great strategic vision,” recalled Jack Welch, the firm’s then boss, in his memoir, “Straight from the Gut”. GE was enticed by easy profits and started to gorge on Thai car loans, Japanese consumer credit and American debt. The growth in GE’s finance arm “almost seems surreal”, observed Mr Welch when he retired in 2001. By then it made 41% of GE’s profits.