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!!!!!!!!!!!!! CIT HALTED !!!!!!!!!!!!!!! *** BANKRUPTCY by Sunday ***
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[quote:Anonymous Coward 441568:MV85MTIwMjZfMTQxMTg5MzZfMTVEMEE0NUE=] [quote:Anonymous Coward 441568] [b]CIT gets $1 bln line of credit from Icahn[/b] SAN FRANCISCO (MarketWatch) -- CIT Group /quotes/comstock/13*!cit/quotes/nls/cit (CIT 0.78, -0.17, -17.68%) said Friday that it got a new $1 billion line of credit from activist investor Carl Icahn. Shares of the troubled lender were halted after falling 13% to 83 cents in afternoon trading. The new credit line can be drawn by CIT on or before the end of this year. The company can still borrow from the Icahn facility if it files for bankrupcty protection from creditors, CIT added in a statement. http://www.marketwatch.com/story/cit-gets-1-bln-line-of-credit-from-icahn-2009-10-30 [/quote] Translation. "They are bankrupt, all done, but we need some lipstick for this pig. We want to keep the sheeple in the dark as long as possible )-; This would make Timmy, Bo and Barney look bad." [/quote]
Original Message
Link pending.
UPDATE 1: CNBC cable news reporting that CIT bankruptcy is certain. Estimated to take 60-90 days to sort out.
UPDATE 2: A link for the lazy ass who can't spell. Here I'll "dive" you this: [
link to www.cnbc.com
]
PLEASE NOTE:
CIT
is not
Citi. They are two different companies. The former is America's largest lender to small and medium sized businesses. The latter is a financial conglomerate.
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