[Cooter]

CIT is CIT group, not affiliated with Citibank.
C is Citigroup. Citibank is the consumer banking arm of Citigroup.
CTY is neither.

[Grampa Dave]

Thanks for the clarification:

“CIT is CIT group, not affiliated with Citibank.
C is Citigroup. Citibank is the consumer banking arm of Citigroup. CTY is neither.”

[drangundsturm]

Ooops! I stand corrected on CIT vs. C.

So I just looked up stress test results and I don’t see anywhere that CIT even participated in the stress tests.

Maybe that’s because they are primarily a commercial lender?

I recall a couple of months ago predictions by a couple of market gurus and billionaire investors that commercial real estate collapse would be the second leg down of the recession.

Does the collapse of CIT represent the first casualty of this second leg down?

Wall street doesn’t seem to even notice today, stocks are flat. But I have seem time lags before after what seemed to be obvious signals that should have tanked the market.

I’m putting on some put options today while they’re still cheap.