10/06/2011 05:20 pm ET Updated Dec 06, 2011

Why It's Impossible To Know Who's Too Big To Fail

Two years ago if you had asked whether the commercial lender CIT Group Inc. (CIT) was too big to fail, the answer would have been an emphatic no. The Treasury Department had rejected its latest bailout plea. In November 2009, after 101 years in business, CIT filed for bankruptcy.

Ask that same question about CIT today, though, and the best answer would be: Who knows?

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