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60%  
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  • U.S. in Talks to Rescue CIT

    07/14/2009 9:32:16 AM PDT · by FromLori · 5 replies · 334+ views
    WSJ ^ | 7/14/09
    WASHINGTON -- U.S. government officials are in advanced talks about providing some sort of aid to CIT Group Inc., one of the country's primary lenders to small and midsize businesses, people familiar with the matter said. Outside CIT offices Monday in New York. The U.S. might aid the lender. CIT has been battered by heavy losses, but so far, regulators haven't deemed its problems big enough to pose a threat to the broader financial system. Government officials are worried, however, about unforeseen consequences that a CIT collapse could trigger. The Obama administration has struggled to launch a program to spur...