CIT Group Scrambles to Survive

CIT Group Inc. officials spent the weekend trying to hash out a plan that would help calm markets and convince customers and investors that it can work its way out of a deepening liquidity crunch.

Over the weekend, CIT representatives held discussions with members of Congress, government officials and regulators as they became increasingly nervous hundreds of small and midsize business customers may rush to withdraw funds or try to draw down credit lines.

Read the whole story on Wall Street Journal or try our Toolbar
Bookmark and Share
blog comments powered by Disqus

Related stories:

  • US's Geithner says confident can deal with CIT

    Jul 13th, 2009 - Reuters

    LONDON, July 13 (Reuters) - U.S. Treasury Secretary TimothyGeithner said on Monday he was confident the government would beable to deal with ailing financial company CIT Group Inc.

  • Obama, Philippines President Arroyo to meet July 30

    Jul 11th, 2009 - Reuters

    WASHINGTON (Reuters) - President Barack Obama and Philippines President Gloria Macapagal Arroyo will discuss how the two countries can work together to fight terrorism and global warming on July 30...

  • US Officials Planning H1N1 School Vaccine Program

    Jul 9th, 2009 - Wall Street Journal

    Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--Top U.S. government officials are planning an H1N1 influenza vaccination campaign aimed at school-age children that could start in October.

  • China Punishes Adoption Officials

    Jul 4th, 2009 - Wall Street Journal

    BEIJING – Chinese authorities have punished six government officials after three baby girls whose parents were still alive were sent to an orphanage in southern China that subsequently put them up for adoption overseas...

  • US Marines launched a pre-dawn mission in Afghanistan's volatile ...

    Jul 1st, 2009 - Washington Post

    CAMP LEATHERNECK, Afghanistan, July 2 -- Thousands of U.S. Marines descended upon the volatile Helmand River valley in helicopters and armored convoys early Thursday, mounting an operation that represents the first large-scale test of the U.S...

More stories ...

Related videos from YouTube:

More videos ...

Google Search: