Report: CIT Nears Bankruptcy, CEO to Resign

[Arraya]

http://www.calculatedriskblog.com/2009/10/report-cit-nears-bankruptcy-ceo-to.html
From Reuters: CIT debt swap struggles, bankruptcy looms. Reuters is reporting that “sources familiar with the matter” say bondholders are showing little interest in the debt exchange offer and a bankruptcy is now more likely.

Also this morning CIT announced that CEO Jeffrey Peek is resigning effective Dec 31st.

The possible bankruptcy of CIT is a major concern because CIT provides financing for about one million small businesses. And small businesses are already having trouble obtaining credit.

http://money.cnn.com/2009/10/05/news/companies/goldman_cit.reut/index.htm?postversion=2009100504

NEW YORK (Reuters) — Goldman Sachs Group would be due a payment of about $1 billion if troubled commercial lender CIT Group were to file for Chapter 11 bankruptcy, according to a source familiar with the matter.

[briansd1]

c it implode, as the commercial might say. 😉

[briansd1]

c it implode, as the commercial might say. 😉

[briansd1]

c it implode, as the commercial might say. 😉

[briansd1]

c it implode, as the commercial might say. 😉

[briansd1]

c it implode, as the commercial might say. 😉

[jpinpb]

“Goldman Sachs Group would be due a payment of about $1 billion if troubled commercial lender CIT Group were to file for Chapter 11 bankruptcy, according to a source familiar with the matter.”

Imagine that. GS getting more money. I’d say if involves them getting money, it’s guaranteed to happen.

[jpinpb]

“Goldman Sachs Group would be due a payment of about $1 billion if troubled commercial lender CIT Group were to file for Chapter 11 bankruptcy, according to a source familiar with the matter.”

Imagine that. GS getting more money. I’d say if involves them getting money, it’s guaranteed to happen.

[jpinpb]

“Goldman Sachs Group would be due a payment of about $1 billion if troubled commercial lender CIT Group were to file for Chapter 11 bankruptcy, according to a source familiar with the matter.”

Imagine that. GS getting more money. I’d say if involves them getting money, it’s guaranteed to happen.

[jpinpb]

“Goldman Sachs Group would be due a payment of about $1 billion if troubled commercial lender CIT Group were to file for Chapter 11 bankruptcy, according to a source familiar with the matter.”

Imagine that. GS getting more money. I’d say if involves them getting money, it’s guaranteed to happen.

[jpinpb]

“Goldman Sachs Group would be due a payment of about $1 billion if troubled commercial lender CIT Group were to file for Chapter 11 bankruptcy, according to a source familiar with the matter.”

Imagine that. GS getting more money. I’d say if involves them getting money, it’s guaranteed to happen.

[CardiffBaseball]

Well since Citi just rate jacked to 29.99 on two cards (with a chance to opt out by killing the cards) I won’t be shedding tears.

[CardiffBaseball]

Well since Citi just rate jacked to 29.99 on two cards (with a chance to opt out by killing the cards) I won’t be shedding tears.

[CardiffBaseball]

Well since Citi just rate jacked to 29.99 on two cards (with a chance to opt out by killing the cards) I won’t be shedding tears.

[CardiffBaseball]

Well since Citi just rate jacked to 29.99 on two cards (with a chance to opt out by killing the cards) I won’t be shedding tears.

[Author]

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