CIT Group

Another Blow To Small Business? CIT Files Bankruptcy

I dragged this out of the vault; from July 17th, 2009.  Go here for the timeline of CIT's problematic financial milestones. Glenn Beck & Charles Payne; 7.17.09 CIT Files Its Bankruptcy Plan Customers Gird for Snags; Usually No Chapter 12 for Banks CIT Group Inc. filed for bankruptcy protection Sunday, in a final attempt to restructure and keep the doors open at the century-old commercial lender. Now, the lender to nearly a million small and midsize businesses must maintain its customer base as it tries to rehabilitate under Chapter 11 protection. Most financial firms sell off assets or liquidate in…
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AIG vs. Cit Group or The Pilgrims vs. Middle America

Our lovely friends at AIC/AIG (and don't forget Goldman Sachs) received upwards of $85 Billion dollars because they were too big to fail, yet the biggest lender to small and medium sized businesses, CIT Group who needs at least $2 Billion and upwards of a whopping $6 Billion (snark) is going to get thrown to the lions; and in this case, the lion is J.P. Morgan who just posted a $2.7 BILLION profit.   CIT Group will become the 4th Largest Bankruptcy, and will more than likely take down numerous small and medium businesses with her while in bankruptcy. What…
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