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Old 10-30-2009, 08:17 AM
 
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CIT Picks Prepack Bankruptcy As Going Forward Option | zero hedge
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Old 11-02-2009, 08:23 AM
 
Location: Heartland Florida
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More free money for Goldman Sachs on the way!
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Old 11-02-2009, 09:12 AM
 
Location: Georgia, on the Florida line, right above Tallahassee
10,474 posts, read 14,516,698 times
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Common shareholders, however, will be out of luck. CIT said all existing common and preferred stock will be cancelled upon emergence from bankruptcy protection. That would likely include preferred stock from the $2.3 billion in funding from the U.S. government's Troubled Asset Relief Program (TARP) the company received in its efforts to stay afloat.


http://money.cnn.com/2009/11/01/news...ion=2009110118

Never saw.....it coming.

I've always wanted to give my share of two point three thousand million dollars to a failing company. It's how we make America stronger. most would've just said. "It's a failure, pshaw...and phooey on you. Not America. No, we give you billions before you fail."

Is a million dollars a lot of money? "No 70Ford, I'll save that in 20 years, give or take."


Is 10 million? "No 70Ford, I'll save that in 200 years, give or take."

is 100 Million?

Is 1,000 million?

is 2,300 million?

Man, wtf.

Last edited by 70Ford; 11-02-2009 at 09:21 AM..
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Old 11-03-2009, 08:30 PM
 
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CIT was one of the largest retail credit structures we've ever seen, Im wondering how this Christmas season will be affected by the loss of the largest money pool available for consumer credit. Despite the happy tune being sung in the loyal media we all know the Emperor has no clothes.........
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Old 11-04-2009, 06:02 AM
 
12,869 posts, read 13,699,852 times
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it looks like the CIT group loss isn't the only one the taxpayers are facing:
Taxpayers lose $2.3 billion on CIT. Expect more TARP losses. - Nov. 2, 2009
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