iOS app Android app

Cit Group

John Thain's Attempted Comeback

Charles Gasparino | Posted 11.28.2012 | Business
Charles Gasparino

Finally we have something to cheer Dodd Frank about. Yes, this Rube Goldberg regulation barely makes a dent in preventing Too Big To Fail banks from wreaking havoc on us again, but it's apparently saving the banking system from the likes of John Thain.

Salvation Army Sues Bank For Risky Lehman Brothers, AIG Investments

New York Times | Stephanie Strom | Posted 06.04.2011 | Impact

The southern division of the Salvation Army filed suit against the Bank of New York Mellon on Friday for almost $22 million, contending that the bank ...

Money Spent On Perks, Fringe Benefits Rose At Bailed Out Banks Last Year

Washington Post | Tomoeh Murakami Tse | Posted 05.25.2011 | Business

Even as the nation's biggest financial firms were struggling and the federal government was spending hundreds of billions of dollars to save many of t...

CIT Group Exit Bankruptcy Protection Thursday

AP | STEPHEN BERNARD | Posted 05.25.2011 | Business

NEW YORK — CIT Group Inc., one of the nation's biggest lenders to small and mid-sized businesses, said Tuesday that a judge approved its reorgan...

Investor Carl Icahn Volunteers to Loan CIT $6 Billion To Stay Afloat

AP | STEPHEN BERNARD | Posted 05.25.2011 | Business

NEW YORK — In another sign that CIT Group Inc. is struggling to restructure its debt, billionaire investor Carl Icahn offered the lender a $6 bi...

Icahn Loans CIT $1 Billion, Backs Restructuring Plan

AP | STEPHEN BERNARD | Posted 05.25.2011 | Business

NEW YORK — Commercial lender CIT Group Inc. said Friday that billionaire investor and bondholder Carl Icahn agreed to support the company's rest...

Jeffrey Peek, CIT Group CEO, Plans To Resign

AP | STEPHEN BERNARD | Posted 05.25.2011 | Business

NEW YORK — CIT Group Inc., struggling as it continues efforts to restructure its debt, said Tuesday chairman and CEO Jeffrey M. Peek will resign...

The Companies That Are Least Likely To Rrepay TARP

usnews.com | Rick Newman | Posted 05.25.2011 | Business

When CIT Group, a medium-sized lender, faced the threat of bankruptcy recently, it raised an uncomfortable prospect for the officials in Washington ma...

CIT Was A 'Wake-Up Call' For Small Companies

wsj.com | VICTORIA E. KNIGHT | Posted 05.25.2011 | Business

he troubles at CIT Group Inc., a key lender to small businesses, underscore the importance of developing back-up plans for borrowing. CIT's financi...

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...

Small Businesses Left Out Of Bailout

wsj.com | JONATHAN WEISMAN | Posted 05.25.2011 | Business

WASHINGTON -- The White House's gamble to cut off aid to struggling lender CIT Group Inc. caps a string of decisions opening President Barack Obama to...

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 Explained: What If It Fails?

AP | CANDICE CHOI | Posted 05.25.2011 | Business

NEW YORK — You may not have heard of CIT Group Inc., but there's a good chance you've shopped in stores that it helps keep in business. The New...

'Goldie Mac: WSJ Takes Attacks Goldman Sachs

wsj.com | Posted 05.25.2011 | Business

Yesterday saw one TARP recipient, Goldman Sachs, report $3.44 billion in profits even as another, CIT, teeters on the edge of either bankruptcy or ano...

CIT Group 'Too Big Too Fail'?

nytimes.com | 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

bloomberg.com | 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...

CIT Group Talks Bailout With Regulators

AP | IEVA M. AUGSTUMS | Posted 05.25.2011 | Business

CHARLOTTE, N.C. — Shares of diversified lender CIT Group Inc. plunged Monday even as U.S. Treasury Secretary Timothy Geithner indicated there could ...

TARP Wife: Her Husband's Company, CIT Group, Posts Poor Earnings

Yahoo! Finance | Posted 05.25.2011 | Business

NEW YORK (AP) -- CIT Group Inc. shares plunged Thursday after the commercial lender reported a hefty loss for the first quarter on higher credit costs...