Thu, Jul 16th, 2009
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WASHINGTON (Reuters) - In leaving CIT Group Inc to sink or swim on its own, U.S. officials are gambling that financial markets and the economy are now strong enough to withstand the possibility a big lender collapses.
On Wednesday, ten months to the day after the bankruptcy of Lehman Brothers exacerbated the global credit crisis, CIT said bailout talks with the government had ended, a development which may push the 101 year old company closer to failure.
Related stories from top sites:
CIT says secures $3 bln credit facility
Jul 19th, 2009 - Reuters
NEW YORK (Reuters) - U.S. lender CIT Group Inc said on Monday it secured a $3 billion credit facility from bondholders and would start a comprehensive restructuring, in moves seen crucial for the company to avoid a bankruptcy filing. The company...
CIT Group board OKs rescue loan
Jul 19th, 2009 - Los Angeles Times
The board of CIT Group Inc., one of the nation's largest lenders to small and mid-size businesses, approved a deal with major bondholders to keep the company out of bankruptcy...
CIT Shares Soar On Possible $3B Bondholder Financing >CIT
Jul 19th, 2009 - Wall Street Journal
NEW YORK (Dow Jones)--Shares of CIT Group Inc. (CIT) soared Monday after reports emerged that the struggling lender is close to reaching a deal to receive $3 billion from bondholders to prevent a bankruptcy filing. The deal...
BEFORE THE BELL: US Stk Futures Up;CIT Said To Get Rescue
Jul 19th, 2009 - Wall Street Journal
(Updates to add Hasbro data, analyst comment, latest available prices) U.S. stock futures advanced Monday after the lender CIT Group was reported to have received a private sector bailout...
CIT reaches tentative $3 bln deal with bondholders
Jul 19th, 2009 - Reuters
NEW YORK (Reuters) - CIT Group Inc has reached a tentative deal with a bondholder group for $3 billion in rescue financing, which the lender hopes will help it avoid bankruptcy...
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- CIT Group may file for bankruptcy...CIT Group Inc., a major lender to small and midsize businesses that has struggled under mounting losses and tight credit availability has decided to file Chapter 11 for bankruptcy.
- Oppenheimer's Heinberg on...A CIT Group Inc. (NYSE:CIT) bankruptcy would have an impact on middle market lending says Marshall Heinberg, the head of investment banking at Oppenheimer & Co. because the firm has been a very big player in small or big capital companies ...
- Don't Panic! CIT Group -...July 26, 2009 - recorded 14:30 EDT Dodd Says US Shouldnt Rule Out Helping CIT Avoid Bankruptcy: www.bloomberg.com CIT Reworks Tender to Punish Late Exchange of Notes: www.bloomberg.com CIT ripple effect squeezes small businesses, retailers: tinyurl ...
- * Breaking* Lender CIT Group...My article from las week : hubpages.com Lender CIT Group filed Bankruptcy protection Tags: CIT made the filing in New York bankruptcy court Sunday Jeffrey M. Peek, chairman and CEO Commercial ...
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