This is NOT Citigroup. This is CIT Group, a commercial lender.
CIT is a commercial lender that specialized in commercial real estate. They have been under the radar for a long time because they are not a glamour bank like CITI or Chase. BUT they carry a LOT of of mortgages taken out by small businesses. Expect a big drop in the market over this. This is much bigger than the home mortgage ponzi scheme. Hang on guys, it’s fixin to get worse.
Thanks dimrats and your ***** media for bringing us this.