Florida bank put TARP funds into loans
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The headquarters of CIT Group is pictured in New YorkSource: Reuters -
The headquarters of CIT Group in seen in New YorkSource: Reuters -
Bar chart of the top 10 biggest US bankruptcy filingsSource: AFP -
People walk past the headquarters of CIT Group in New YorkSource: Reuters -
People walk past the headquarters of CIT Group in New YorkSource: Reuters
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1,600 names added per day to watch list
By: BiodunIginla
by Biodun Iginla, BBC News Published: Nov. 1, 2009 at 6:00 PM http://www.allvoices.com/s/event-4533198/aHR0cDovL3d3dy51cGkuY29tL1RvcF9OZXdzL1VTLzIwMDkvMTEvMDEvMTYw MC1uYW1lcy1hZGRlZC1wZXItZGF5LXRvLXdhdGNoLWxp
about 1 month ago
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CIT Group files for fifth largest Bankruptcy protection in US history
By: DelilahStarling
In one of the largest bankruptcy filings in United States history, CIT Group, a lender to small and medium sized businesses announced it has filed for debt reorganization under chapter 11. On November 1, 2009, CIT Group filed for Chapter 11 bankruptcy protection.
about 1 month ago
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Mystery Illness Infects Over A Quarter Of A Million People In Ukraine
By: fantasma
It is being reported that the mystery illness in the Ukraine has now infected 255,000 people and has now killed 67. Authorities in the Ukraine are denying that aircraft are spraying aerosols over the cities in an effort to combat the mysterious illness plaguing the region. School nurses in New York gave the swine flu vaccine to ...
about 1 month ago
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Peter DeFazio: President Obama is Being Failed by His Economic Team
By: steph10
President Barack Obama “is being failed by his economic team” and should replace Treasury Secretary Tim Geithner and White House Economic Policy Director Larry Summers, says US House Representative Peter DeFazio, The Raw Story reports. The well-known member of the Congressional Progressive Caucus told MSNBC’s The Ed Show that he ...
11 days ago
- News Source: United Press International | 25 days agoThe Biscayne Bank in Florida reported that, with federal bailout funds in hand, it increased lending in the third quarter. For the short-term the increased lending may be a mixed-blessing, as the bank also reported it lost money in the third quarter...
- News Source: Mother Jones | 26 days agoBut by the summer , the company was flirting with bankruptcy...Preferred and common shareholders will be wiped out, the company has said ...But that recovery “will be minimal” said a Treasury spokesperson...We reported a couple of weeks ago...
- News Source: CNN | 26 days agoCIT Group is the first big bailout loss for taxpayers, but it won't be the last. CIT ( CIT , Fortune 500 ) filed for Chapter 11 bankruptcy protection Sunday. The New York-based small business lender said all its common and preferred shares will be...
- Blog Source: www.motherjones.comThe TARP recipient bites the dust—and wipes out billions of taxpayer dollars in the process.
- Blog Source: sayanythingblog.comThe bankruptcy is also a blow for the U.S. government, which invested $2.33 billion in CIT in December through the Troubled Asset Relief Program and will likely lose most of it. Here's the really scary part: Taxpayers will receive money ...
- Blog Source: chattahbox.comAnd by filing for bankruptcy taxpayers will lose the $2.3 billion investment they made in CIT as part of the government's sweeping financial rescue last fall, marking the first such loss of the bailout program. ...
- Blog Source: www.dailyfinance.comCIT received $2.3 billion as part of the Troubled Asset Relief Program, or TARP in December 2008. Those funds helped stabilize CIT, but the giant lender was undone thanks to billions in bad student loans and sub-prime mortgage loans. ...
- Blog Source: www.economicsjunkie.comThe New York Times writes: Three months ago, the CIT Group barely averted what it considered to be a ruinous bankruptcy filing that would likely have put the.
- Blog Source: www.huffingtonpost.comCIT made the filing in New York bankruptcy court Sunday, after a debt-exchange offer to bondholders failed. CIT said in a statement that its bondholders have overwhelmingly approved a prepackaged reorganization plan which will reduce ...
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Video Source: www.truveo.com - Video Source: www.truveo.com
- Video Source: www.truveo.com
- Video Source: www.truveo.comTaxpayers May Lose $2.3B in ...Video Source: www.truveo.comTaxpayers May Lose $2.3B in CIT Bankruptcy
- Video Source: www.truveo.com
- Video Source: www.truveo.comEgan Says CIT Bankrupcty ...Video Source: www.truveo.comEgan Says CIT Bankrupcty Filing May Help Bondholders: Video
Cell phones use report code: Related Tweets
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@echasan RT@DealZone CIT bankruptcy could have domino effect http://link.reuters.com/xus47f
25 days ago -
@jackschofield RT Guardian @datastore UK bank bailouts in full. What else could you get for £38bn? http://bit.ly/2fUMe6
25 days ago -
@MickiMaynard Nice job discussing CIT on @newshour, @m_delamerced.
26 days ago -
@MickiMaynard Watching! RT @NYTimesComm: Tune in to @NewsHour for segment re CIT's bankruptcy w/ NYT's @m_delamerced. Airs at 7:36 PM on @thirteenny.
26 days ago -
@andersoncooper Financial Dispatch: Lender CIT files for bankruptcy http://bit.ly/3k0wuF
26 days ago -
@lapresmidi RT @thefashionbeat CIT Filed For Bankruptcy: What Happens To The Fashion Industry? http://bit.ly/2vrief
26 days ago -
@jaketapper RT @propublica Taxpayers Lose $2.3 Billion with CIT Bankruptcy #bailout http://bit.ly/4FjbU
26 days ago -
@nateog BREAKING: Lender CIT files for Chapter 11 bankruptcy protection http://bit.ly/104v1p via @LATimesbiz
26 days ago -
@ericbolling Please tell me Dunkin Munchkins prices wont have to go up now that CIT is in re-org...
26 days ago -
@codywillard My latest- Six very real reasons to be outraged about CIT (and Goldman and the Govt) and its role in the bailouts http://bit.ly/deZsR #tfree
26 days ago
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