[spokeshave]

Small businesses...generating approx 70% of job growth in a normal (non-0bambi) economy and major CIT clients will take another hit.

Expect an up-tick in unemployment figures.

[Lurking in Kansas]

How's the bail-out working for ya, CIT Group?? The Zero sure saved ya .. didn't he?

Just the first of many...

[RowdyFFC]

Ka ching...the people s*****d out of $2.3 billion, the bankers made out like bandits...and the Obama/Geithner team should go to jail for this.

And don’t say Bush...this was the doing of Bernanke/Geithner very conveniently in an election year for the Obama team.

[editor-surveyor]

The weather vane doth point in the direction the wind blows.

[editor-surveyor]

Is this what you meant?

[Ghost of Philip Marlowe]

Yeah, but just think how much worse it would have been if they had not received any bailout money.

They may have gone bankrupt or something.

This is much better than expected.

[EGPWS]

The filing, made in a Manhattan federal court, will still mean much pain for many parties, beginning with taxpayers. CIT received $2.3 billion in government aid last year, a bailout that came in the form of preferred stock. That will almost certainly be wiped out in the bankruptcy process, the first realized loss in the government’s rescue of the financial system.

Obama is thumbs up and giddy in the Oval Office.

[GnuHere]

What a waste. They coulda bailed me out for 1/1000th of that, but I guess it wouldn’t help if the dollar is soon worthless anyway...

[optiguy]

Anyone see Giethner this morning on Meet the Press? When asked if he would like to see AIG prosper after they pay back the TARP money, he said he didn’t care if they do or not. I thought we bailed them out because they were too big to fail.

[unique]

Lending to this entity at that time represents malfeasance, at best. Using taxpayer funds seems criminal to me.

Someone needs to stop tarp or stimulus funds from going to entities that more than likely will file BK within a few months.

We are so screwed.

[CincyRichieRich]

Good grief, how stimulating.

What I want to know are who are the inside players at CIT and their ties to the Obama regime. I suggest there will be a handful of big donors and close friends of Bernake and Gietner.

[Cheerio]

And I can remember conservative radio talk show hosts defending TARP stating the taxpayers would get their money back. No I won't name names (unless I could find the transcript, but he is on TRN).

[B Knotts]

This is NOT Citigroup. This is CIT Group, a commercial lender.

[glock rocks]

BOHICA.

[SideoutFred]

Is this the same as “C” on the NY Stock Exchange, or one of their “sister” companies

[GOPJ]

Billions of dollars down a rat hole? How many years will it take for all of us to pay off that debt? Money CIT blew through in months?

[ExSES]

Stock Futures as of 9:42PM

DJIA INDEX 9,702.00 +38.00

S&P 500 1,037.30 +4.30

NASDAQ 100 1,668.25 +2.75

[rabscuttle385]

*Bush-Paulson-Obama-McCain legacy ping!*