Comments on: CIT Won't Get Additional Bailout Money; Bankruptcy Likely http://moneymorning.com/2009/07/16/cit-bankruptcy/ Global Investment News Mon, 13 Feb 2012 18:41:47 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: jcd http://moneymorning.com/2009/07/16/cit-bankruptcy/comment-page-1/#comment-10116 jcd Thu, 24 Dec 2009 14:27:45 +0000 http://www.moneymorning.com/?p=8104#comment-10116 So what happened to the 2.3 bil TARP money?!! How much money did the CFO and CEO take home? If it's more than ZERO, it's too much. So what happened to the 2.3 bil TARP money?!!

How much money did the CFO and CEO take home?

If it's more than ZERO, it's too much.

]]> By: CIT Offers Debt Exchange, Draws Up Bankruptcy Plans http://moneymorning.com/2009/07/16/cit-bankruptcy/comment-page-1/#comment-7180 CIT Offers Debt Exchange, Draws Up Bankruptcy Plans Sat, 03 Oct 2009 12:01:36 +0000 http://www.moneymorning.com/?p=8104#comment-7180 [...] in July raised $3 billion from bondholders to keep afloat after it was denied more funds from the U.S. government under the Troubled Asset Relief Program (TARP). The company’s bondholder steering committee [...] [...] in July raised $3 billion from bondholders to keep afloat after it was denied more funds from the U.S. government under the Troubled Asset Relief Program (TARP). The company's bondholder steering committee [...]

]]> By: Investment News Briefs http://moneymorning.com/2009/07/16/cit-bankruptcy/comment-page-1/#comment-7179 Investment News Briefs Fri, 14 Aug 2009 09:55:18 +0000 http://www.moneymorning.com/?p=8104#comment-7179 [...] Commercial lender CIT Group Inc. (NYSE: CIT) has been told by the U.S. Federal Reserve that it has 15 days to come up with a capital and liquidity management plan, the company said yesterday (Thursday) in a regulatory filing. The struggling lender may finally yield and declare bankruptcy if various restructuring efforts including a tender offer for $1 billion in notes due on August 17 prove unsuccessful. CIT must also submit a business plan to the Fed outlining how it will improve its financial condition and outline actions to strengthen its management and corporate governance within 75 days. CIT received more than $2 billion in Trouble Assset Relief Program (TARP) funds in December, but was denied additional money last month. [...] [...] Commercial lender CIT Group Inc. (NYSE: CIT) has been told by the U.S. Federal Reserve that it has 15 days to come up with a capital and liquidity management plan, the company said yesterday (Thursday) in a regulatory filing. The struggling lender may finally yield and declare bankruptcy if various restructuring efforts including a tender offer for $1 billion in notes due on August 17 prove unsuccessful. CIT must also submit a business plan to the Fed outlining how it will improve its financial condition and outline actions to strengthen its management and corporate governance within 75 days. CIT received more than $2 billion in Trouble Assset Relief Program (TARP) funds in December, but was denied additional money last month. [...]

]]> By: Bondholders to Bail Out CIT http://moneymorning.com/2009/07/16/cit-bankruptcy/comment-page-1/#comment-7177 Bondholders to Bail Out CIT Mon, 20 Jul 2009 19:27:19 +0000 http://www.moneymorning.com/?p=8104#comment-7177 [...] CIT Group Inc. (NYSE: CIT) appears to have struck a $3 billion financing deal with bondholders late Sunday night, rescuing it from the brink of bankruptcy after last week failing to obtain additional bailout money from the U.S. government. [...] [...] CIT Group Inc. (NYSE: CIT) appears to have struck a $3 billion financing deal with bondholders late Sunday night, rescuing it from the brink of bankruptcy after last week failing to obtain additional bailout money from the U.S. government. [...]

]]> By: Retail Sector Faces Uphill Climb in 2009 http://moneymorning.com/2009/07/16/cit-bankruptcy/comment-page-1/#comment-7178 Retail Sector Faces Uphill Climb in 2009 Mon, 20 Jul 2009 10:58:35 +0000 http://www.moneymorning.com/?p=8104#comment-7178 [...] potential bankruptcy of commercial lender CIT Group Inc. (NYSE: CIT) could be a major tipping point for businesses that rely heavily on credit. Vendors for [...] [...] potential bankruptcy of commercial lender CIT Group Inc. (NYSE: CIT) could be a major tipping point for businesses that rely heavily on credit. Vendors for [...]

]]> By: Gary Wardell http://moneymorning.com/2009/07/16/cit-bankruptcy/comment-page-1/#comment-7176 Gary Wardell Sat, 18 Jul 2009 23:57:15 +0000 http://www.moneymorning.com/?p=8104#comment-7176 Most people's closets and dresser drawers are stuffed with thing they will never wear again. Let CIT fail! Most people's closets and dresser drawers are stuffed with thing they will never wear again. Let CIT fail!

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