CIT Files for Bankruptcy, First Loser in Government Bailout

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Personal Finance

businesspundit.com - 11/2/2009

CIT Files for Bankruptcy, First Loser in Government Bailout

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Image: Wikipedia Seeking Alpha’s Eli Hoffman puts yesterday’s CIT bankruptcy filing–the fifth largest in US history–in context: CIT Group (CIT) filed for bankruptcy protection Sunday with broad support from its debtholders, but taxpayers will lose the $2.3B ...

nytimes.com - 11/1/2009

Can Citigroup Carry Its Own Weight?

— nytimes.com — OVER the past 80 years, the United States government has engineered not one, not two, not three,... but at least four rescues of the institution now known as Citigroup . In previous instances, the bank came back from the crisis and prospered. Will ... (more) Can Citigroup Carry Its Own Weight?

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Citigroup

Comments vote down Economist's View found this 11/1/2009found this

reuters.com - 11/2/2009

CIT Group files for bankruptcy

— reuters.com — Dan Wilchins and Elinor Comlay NEW YORK (Reuters) - CIT Group Inc, a lender to hundreds of... thousands of small and medium-sized businesses, filed for bankruptcy on Sunday, as the global financial crisis left it unable to fund itself and the recession ... (more) CIT Group files for bankruptcy

Stocks

Comments vote down Rolfe Winkler found this 11/2/2009found this

online.wsj.com - 11/1/2009

CIT Files Its Bankruptcy Plan

— online.wsj.com — BY MIKE SPECTOR, VANESSA O'CONNELL AND KATE HAYWOOD CIT Group Inc. filed for bankruptcy protection Sunday, in... a final attempt to restructure and keep the doors open at the century-old commercial lender. Now, the lender to nearly a million small and ... (more) CIT Files Its Bankruptcy Plan