Fri, Jul 10th, 2009
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July 10 (Bloomberg) -- The Federal Deposit Insurance Corp.is unwilling to guarantee CIT Group Inc.’s bond sales becausethe commercial lender’s credit quality is worsening, accordingto people familiar with the regulator’s thinking.
The FDIC, which has backed $274 billion in bond sales underits Temporary Liquidity Guarantee Program since Nov. 25, isconcerned that standing behind CIT debt would put taxpayer moneyat risk, said the people, who declined to be identified becausethe application process is private.
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Business lender CIT scrambles for aid
Jul 11th, 2009 - OrlandoSentinel.com
NEW YORK - In a sign the financial crisis is not yet over, CIT Group Inc., the No. 1 lender to small and mid-sized U.S. businesses, is holding advanced talks with the government about receiving emergency federal assistance...
CREDIT MARKETS: CIT Scrambles; Investors Await 2Q Earnings
Jul 11th, 2009 - Wall Street Journal
NEW YORK (Dow Jones)--CIT Group Inc. (CIT) bonds plunged Monday as the a lender to nearly a million mostly small and midsize businesses and companies prepares for a possible bankruptcy filing.
CIT working on survival plan: report
Jul 11th, 2009 - Reuters
(Reuters) - CIT Group Inc, a commercial U.S. lender struggling to finance its business, said late on Sunday that it remains in active discussions with regulators on measures to improve its near-term liquidity position.
FDIC's Challenge With Busted Banks
Jul 11th, 2009 - Wall Street Journal
Are regulators trying to prove Charles Darwin wrong? As bank failures mount, hitting 53 this year by Friday, the Federal Deposit Insurance Corp. needs solid financial institutions to assume the assets and liabilities of collapsed lenders...
CIT Group shares dive as government aid uncertain
Jul 11th, 2009 - Yahoo! News
PHILADELPHIA – Shares of commercial lender CIT Group Inc. plunged Friday as uncertainty mounts over whether it can get federal backing for its bonds. The New York-based...
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LivingstronglyMon, Jul 20th, 20091 Diggs, 0 CommentsFDIC Said to Withhold CIT Debt Guarantees Due to Risk
The Federal Deposit Insurance Corp. is unwilling to guarantee CIT Group Inc. []�s bond sales because the commercial lender�s credit quality is worsening, according to people familiar with the regulator�s thinking.(Business & Finance)
rmcbondFri, Jul 10th, 20092 Diggs, 0 Comments
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