This really sucks. Credit will be even harder to get for many wholesalers and other medium sized companies. They all rely on CIT style financing to maintain inventory.
GE will probably get the best customers, the rest get to go suck eggs. Local banks sure can’t help.
I can only hope that the top executives at that company suffer great personal financial loss.
I’m sure they’re parachutes are packed, but I hope they feel alot of pain, after raising CC rates to 27 percent.
Immoral userers.
I didn’t write down his name, but the CEO of GE was on the White House Visitor’s list....about 7 times.
If the loan to a small business is a good investment, why won’t the money be there?