Breaking news:
CNBC, just a few minutes ago (as European markets open) is reporting that CIT reached a deal for an emergency rescue from a German firm.
Waiting for more info...
To: Daisyjane69
the crisis mill keeps grinding
2 posted on
07/20/2009 12:54:50 AM PDT by
KTM rider
( revolution is the only thing that can save us now)
To: wafflehouse; Leisler; PAR35; TigerLikesRooster; AndyJackson; Thane_Banquo; nicksaunt; ...
*Ping!*
5 posted on
07/20/2009 1:02:42 AM PDT by
rabscuttle385
("If this be treason, then make the most of it!" —Patrick Henry)
To: Daisyjane69
>>CIT collapse could ripple through retail industry (Obama’s continuing assault on small business!)<<
What’s the alternative - another bailout?
8 posted on
07/20/2009 1:24:22 AM PDT by
gondramB
To: Daisyjane69
If CIT’s commercial factoring business is profitable, one would expect other lenders to try to get that business if CIT disappeared. In fact, I would not be surprised if their better customers are being approached by several other lenders right now.
To: Daisyjane69
CIT just wanted connected enough for a federal bailout. No big labor unions or Goldman Sachs cronies involved.
17 posted on
07/20/2009 3:44:39 AM PDT by
Wolfie
To: Daisyjane69
18 posted on
07/20/2009 4:43:18 AM PDT by
DuncanWaring
(The Lord uses the good ones; the bad ones use the Lord.)
To: Daisyjane69
24 posted on
07/20/2009 5:44:46 AM PDT by
Diana in Wisconsin
(Save The Earth. It's The Only Planet With Chocolate.)
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