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Cit Bailout

CIT Bankruptcy Filed: US Will Likely Lose $2.3 Billion, Goldman Sachs Will Gain $1 Billion

AP / Huffington Post | By STEPHEN MANNING | Posted 05.25.2011 | Business

WASHINGTON -- Lender CIT Group has filed for Chapter 11 bankruptcy protection, in an effort to restructure its debt while trying to keep loans flowing...

CIT's Rescue Could Be Turning Point

AP | Daniel Wagner and Stevenson Jacobs, AP Business Writers | Posted 05.25.2011 | Business

WASHINGTON (AP) -- With bondholders coming to the rescue of troubled commercial lender CIT Group Inc., and not the government, a new reality is settin...

Hey, What About CIT?

Leo Hindery, Jr. | Posted 05.25.2011 | Business
Leo Hindery, Jr.

We haven't at all reformed Wall Street, we've just resurrected it. Then when it comes to saving the one institution that's necessary, we can't find the political will to do so.

CIT Denied Bailout, Bankruptcy Likely

AP | STEVENSON JACOBS and DANIEL WAGNER | Posted 05.25.2011 | Business

NEW YORK — Denied a federal bailout, CIT Group Inc. said late Thursday its board and management continue to seek alternatives to shore up the co...

CIT Group 'Too Big Too Fail'? | JULIE CRESWELL and STEPHEN LABATON | Posted 05.25.2011 | Business

The CIT Group is one of the nation's biggest lenders to small businesses. But a debate is swirling in Washington over whether it is large enough -- or...

CIT CEO Jeff Peek Pushed Company Into Risky Subprime | Ari Levy and Linda Shen | Posted 05.25.2011 | Business

July 14 (Bloomberg) -- CIT Group Inc. Chief Executive Officer Jeffrey Peek moved from a New Jersey office complex to a 28-story glass tower on Manhatt...