CIT Group (CIT)

HenryTo · Posted: Tue Jul 01, 2008 10:04 am Post subject: CIT Group (CIT)

CIT sells its home lending operations to Lone Star Funds - receiving $1.5 billion in the process and getting rid of its manufactured housing portfolio:

http://www.marketwatch.com/news/story/cit-rallies-exit-mortgage-business/story.aspx?guid=%7BABAC58E1%2D0C14%2D41C0%2DBD4B%2DC87A1CD71D99%7D&siteid=yhoof

HenryTo · Posted: Tue Jul 14, 2009 10:16 am Post subject:

BusinessWeek takes the other side of the argument: Why CIT isn't too big to fail.

http://www.businessweek.com/bwdaily/dnflash/content/jul2009/db20090713_500893.htm

HenryTo · Posted: Tue Jul 14, 2009 9:06 am Post subject:

The WSJ explains why a failure of CIT could pose a systemic risk:

http://online.wsj.com/article/SB124757917744938883.html

HenryTo · Posted: Mon Jul 13, 2009 11:48 pm Post subject:

CIT talks still ongoing. A successful recapitalization should send the stock market significantly higher as federal-sponsored liquidity is indirectly injected utilizing CIT as the vehicle - especially given the "failed" breakdown of the stock market we saw at the open this morning.

HenryTo · Posted: Mon Jul 13, 2009 12:01 am Post subject:

A CIT failure would also wreak havoc across the Australian business landscape:

http://www.theaustralian.news.com.au/business/story/0,28124,25769379-36418,00.html

HenryTo · Posted: Sun Jul 12, 2009 11:51 pm Post subject:

CIT's failure most probably won't pose a systemic risk - but it could conceivably drive the national unemployment rate to 11% and higher if allowed to do so:

http://www.bloomberg.com/apps/news?pid=20601087&sid=a.fUiHMvPVyE

HenryTo · Posted: Sat Jul 11, 2009 11:55 am Post subject:

Is this the end of the road for CIT?

http://www.bloomberg.com/apps/news?pid=20601087&sid=aHOrbEKeCVzk

The WSJ reports the company is now preparing to file for bankruptcy:

http://www.reuters.com/article/marketsNews/idESBNG46597220090711?rpc=44

HenryTo · Posted: Mon Dec 22, 2008 5:36 pm Post subject:

CIT achieves bank holding status:

http://www.federalreserve.gov/newsevents/press/orders/20081222a.htm