[rabscuttle385]

Tomorrow is FDIC Friday. Stay tuned.

[b4its2late]

There’s $2.33 billion down the drain.

[bill1952]

>the century-old lender could founder, even after it received a $2.33 billion taxpayer-financed bailout in December.

Scare tactics.

Timmy G. has just stated for the public record that the economy is turning around and improvements will seen seen by all in the rest of this year.

So, one of the above statements is wrong and the Government can't be wrong...

[Hodar]

Let's see, what precipitated this whole mess.

Democrats insisted we give home loans to minorities with verifiable records of being unable to manage their money. Banks, under Federal threat created gazillions of debt from deadbeats based upon the color of their skin, not their credit history or their actual income.

Democrats opposed drilling and refineries in the USA. We are completely at the mercy of (hostile) foreign nations for our energy.

Energy prices went up, and all we could do is pay $5 at the pump - Democrats still opposed opening up energy exploration offshore, mining coal and nuke.

People, faced with the decision to eat, buy gas or pay their house payment, were forced to spend their LIMITED resources on food, gas and electricity.

Home loans defaulted, and here we are.

So, aside from frivolous spending of over $1 Trillion; what has been ‘fixed’ to prevent this from happening again tomorrow?

[Petronski]

CIT Common trading today:
High: 1.66
Low: 0.02
Last: 0.356

[drangundsturm]

Obama won’t bail out City bank, he will nationalize them outright. That’s what he’s setting up.

Note that by having his officials state that they won’t bail out city, that essentially has doomed the company. That sucking sound you hear is all the depositors withdrawing funds. They are doomed within 48 hours after a statement like that is released.

[drangundsturm]

Didn’t CTY pass the “stress tests” just a couple of months ago?

Oh wait, those were the “stress tests” that assumed a maximum unemployment rate of 8.9% and just 2 months later we’re at 9.5 and still climbing precipitously.

These “stress tests” were akin to having a heart patient take a stress test while lying perfectly still in bed with soothing music playing in the background.

[DuncanWaring]

More on CIT:

http://market-ticker.org/archives/1211-Here-We-Go-Again-CIT.html

[dennisw]

ONLY THE (mafia style) CONNECTED SURVIVE
Goldman Sachs and the other giants never have aproblem getting bailed out

[stephenjohnbanker]

“The plight of CIT, which provides loans to about a million small and midsize companies”

This failure will REALLY help the economy.

[swarthyguy]

This year’s Lehman Brothers.