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!!!!!!!!!!!!! CIT HALTED !!!!!!!!!!!!!!! *** BANKRUPTCY by Sunday ***

 
GlassPearls  (OP)

User ID: 613866
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10/30/2009 01:27 PM
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Re: !!!!!!!!!!!!! CIT HALTED !!!!!!!!!!!!!!! *** BANKRUPTCY by Sunday ***
OP should be banned
 Quoting: Anonymous Coward 584809

Yeah, AC, whatever. How about you join and then you'll have a voice that has some weight.
SHRModerator
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10/30/2009 01:27 PM

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Re: !!!!!!!!!!!!! CIT HALTED !!!!!!!!!!!!!!! *** BANKRUPTCY by Sunday ***
Dow is falling off a cliff.....

Dow 9,726.94 -235.64 -2.37%
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Ooooh, see the fire is sweepin' Our very streets today...
Burns like a red coal carpet, Mad bulls lost the way...
War, children, it's just a shot away...it's just a shot away....
Rokit5

User ID: 806572
Canada
10/30/2009 01:30 PM
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Re: !!!!!!!!!!!!! CIT HALTED !!!!!!!!!!!!!!! *** BANKRUPTCY by Sunday ***
Link pending.

UPDATE 1: CNBC cable news reporting that CIT bankruptcy is certain. Estimated to take 60-90 days to sort out.
 Quoting: GlassPearls


CIT to file 'within a week'

Thread: BREAKING: CIT TO FILE FOR BANKRUPCY 'WITHIN THE WEEK' (Page 2)
Anonymous Coward
User ID: 584809
United States
10/30/2009 01:31 PM
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Re: !!!!!!!!!!!!! CIT HALTED !!!!!!!!!!!!!!! *** BANKRUPTCY by Sunday ***
Okay, sorry OP about the banned comment.

It is trading at .77 cents and Ichan just loaned them 1 billion.

1 billion - that's all?


They will be owned by BOA Monday morning.
Anonymous Coward
User ID: 782508
United States
10/30/2009 01:32 PM
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Re: !!!!!!!!!!!!! CIT HALTED !!!!!!!!!!!!!!! *** BANKRUPTCY by Sunday ***
: CIT still "very likely" to file prepackaged bankruptcy on Sunday, CNBC says
CNBC's David Faber reports that CIT is still "very likely" to file a prepackaged bankruptcy on Sunday, even with the news just announced regarding the company's reorganization plan with Carl Icahn. :theflyonthewall.com
GlassPearls  (OP)

User ID: 613866
United States
10/30/2009 01:33 PM
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Re: !!!!!!!!!!!!! CIT HALTED !!!!!!!!!!!!!!! *** BANKRUPTCY by Sunday ***
Okay, sorry OP about the banned comment.

It is trading at .77 cents and Ichan just loaned them 1 billion.

1 billion - that's all?


They will be owned by BOA Monday morning.
 Quoting: Anonymous Coward 584809

Apology accepted. Peace.
SHRModerator
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10/30/2009 01:34 PM

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Re: !!!!!!!!!!!!! CIT HALTED !!!!!!!!!!!!!!! *** BANKRUPTCY by Sunday ***
OP should be banned



If he is correct can we ban you?
 Quoting: Anonymous Coward 743646

You guys aren't going to banning anyone!


Easy now....Just back away from the bannage...C'mon now, we all want this to end without anyone getting hurt...easy...just back away and we all go home...that's right...easy...you're doing great....that's right....we don't want anyone to get hurt here.....ok, good job....now....

GIT EM BOYS!!! CLEAR CLEAR CLEAR...HUT HUT HUT...ON THE GROUND MUTHA FUCKA!!! TAZZ EM!!! BZZZZZ BZZZZ....AHHHH!!!! MOVE IN!!! TAKE THE SITE!!! NUKE EM FROM ORBIT!!! GO GREEN GO GREEN!!!!

ahhh
____________________________________________________
E-mail anytime [email protected]
Inquiring about a ban?, include the IP address found here. [link to www.showmemyip.com]

Ooooh, see the fire is sweepin' Our very streets today...
Burns like a red coal carpet, Mad bulls lost the way...
War, children, it's just a shot away...it's just a shot away....
Anonymous Coward
User ID: 806555
United States
10/30/2009 01:34 PM
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Re: !!!!!!!!!!!!! CIT HALTED !!!!!!!!!!!!!!! *** BANKRUPTCY by Sunday ***
All this and the fucking piece of shit went UP 199 points yesterday.....WALL STREET NEEDS TO BE TAKEN OUT and the PARAMILITARY PIGS guarding it as well.......I'm not going to do fucking thing because I will just sit back and watch as the Arabs do what they FINALLY have to do...If they have any balls
Anonymous Coward
User ID: 584809
United States
10/30/2009 01:34 PM
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Re: !!!!!!!!!!!!! CIT HALTED !!!!!!!!!!!!!!! *** BANKRUPTCY by Sunday ***
Okay, sorry OP about the banned comment.

It is trading at .77 cents and Ichan just loaned them 1 billion.

1 billion - that's all?


They will be owned by BOA Monday morning.

Apology accepted. Peace.
 Quoting: GlassPearls

hf
Anonymous Coward
User ID: 795177
United States
10/30/2009 01:35 PM
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Re: !!!!!!!!!!!!! CIT HALTED !!!!!!!!!!!!!!! *** BANKRUPTCY by Sunday ***
looks like the truth of this fed pumped rally is being shown

for the scam that it is.
GlassPearls  (OP)

User ID: 613866
United States
10/30/2009 01:35 PM
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Re: !!!!!!!!!!!!! CIT HALTED !!!!!!!!!!!!!!! *** BANKRUPTCY by Sunday ***
: CIT still "very likely" to file prepackaged bankruptcy on Sunday, CNBC says
CNBC's David Faber reports that CIT is still "very likely" to file a prepackaged bankruptcy on Sunday, even with the news just announced regarding the company's reorganization plan with Carl Icahn. :theflyonthewall.com
 Quoting: Anonymous Coward 782508

Correct. Faber went on to say it will take 60-90 days to sort it all out.
SHRModerator
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10/30/2009 01:36 PM

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Re: !!!!!!!!!!!!! CIT HALTED !!!!!!!!!!!!!!! *** BANKRUPTCY by Sunday ***
Okay, sorry OP about the banned comment.

It is trading at .77 cents and Ichan just loaned them 1 billion.

1 billion - that's all?


They will be owned by BOA Monday morning.

Apology accepted. Peace.
 Quoting: GlassPearls

oH wHAT DA FUK???? No mod SWAT deployment and crazy tac shit?....The snipers are gonna be disapointed!
____________________________________________________
E-mail anytime [email protected]
Inquiring about a ban?, include the IP address found here. [link to www.showmemyip.com]

Ooooh, see the fire is sweepin' Our very streets today...
Burns like a red coal carpet, Mad bulls lost the way...
War, children, it's just a shot away...it's just a shot away....
Anonymous Coward
User ID: 682111
United States
10/30/2009 01:36 PM
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Re: !!!!!!!!!!!!! CIT HALTED !!!!!!!!!!!!!!! *** BANKRUPTCY by Sunday ***
What does this mean, good or bad?
 Quoting: Anonymous Coward 433020



One of the world's largest banks....

What do you think?
Anonymous Coward
User ID: 584809
United States
10/30/2009 01:36 PM
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Re: !!!!!!!!!!!!! CIT HALTED !!!!!!!!!!!!!!! *** BANKRUPTCY by Sunday ***
i read somehwere the market is over valued at 40%!
snarkModerator
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User ID: 790439
United States
10/30/2009 01:38 PM

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Re: !!!!!!!!!!!!! CIT HALTED !!!!!!!!!!!!!!! *** BANKRUPTCY by Sunday ***
Goldman Sachs wins again.
[link to rightsoup.com]
T For Texas, T For Tennessee!


The virtue of courage is a prerequisite for the practice of all other virtues, because otherwise one is virtuous only when virtue has no cost. There are times when something needs to be done, and yet we know that if we step up and do this needful thing, we will pay a heavy personal price. -C.S. Lewis
GlassPearls  (OP)

User ID: 613866
United States
10/30/2009 01:39 PM
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Re: !!!!!!!!!!!!! CIT HALTED !!!!!!!!!!!!!!! *** BANKRUPTCY by Sunday ***
Okay, sorry OP about the banned comment.

It is trading at .77 cents and Ichan just loaned them 1 billion.

1 billion - that's all?


They will be owned by BOA Monday morning.

Apology accepted. Peace.

oH wHAT DA FUK???? No mod SWAT deployment and crazy tac shit?....The snipers are gonna be disapointed!
 Quoting: SHR

1rof1
HTCWiz

User ID: 787807
United States
10/30/2009 01:40 PM
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Re: !!!!!!!!!!!!! CIT HALTED !!!!!!!!!!!!!!! *** BANKRUPTCY by Sunday ***
CIT, Goldman reach agreement
Posted on October 30, 2009 12:33 PM

Struggling commercial lender CIT Group Inc. said Friday that it reached a deal with Goldman Sachs Group Inc. to reduce a $3 billion line of credit to $2.13 billion and also keep it open, under certain circumstances, should CIT file for bankruptcy.

New York-based CIT paid Goldman a $285 million termination fee for reducing the facility, according to a filing with the Securities and Exchange Commission. The agreement eliminates the unused portion of the credit line, and CIT put up $250 million of extra collateral, the company said.

[link to www.thedeal.com]
~ America is a vast conspiracy to make you happy. ~
Anonymous Coward
User ID: 797720
United States
10/30/2009 01:43 PM
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Re: !!!!!!!!!!!!! CIT HALTED !!!!!!!!!!!!!!! *** BANKRUPTCY by Sunday ***
If I was an investor in CIT I would not be feeling too good right about now...
ac
User ID: 137597
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10/30/2009 01:44 PM
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Re: !!!!!!!!!!!!! CIT HALTED !!!!!!!!!!!!!!! *** BANKRUPTCY by Sunday ***
Why don't they just put this fucker out of its misery all ready? I can't believe the amount of money that has been funneled into this dying pig just to prop it up. If they go away, some other lending entity will surely take its place. Talk about your proverbial black holes; Anyone that has been stupid enough to throw any money at CIT at this juncture has to be certifiable!
Anonymous Coward
User ID: 743646
United States
10/30/2009 01:44 PM
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Re: !!!!!!!!!!!!! CIT HALTED !!!!!!!!!!!!!!! *** BANKRUPTCY by Sunday ***
OP should be banned



If he is correct can we ban you?

You guys aren't going to banning anyone!


Easy now....Just back away from the bannage...C'mon now, we all want this to end without anyone getting hurt...easy...just back away and we all go home...that's right...easy...you're doing great....that's right....we don't want anyone to get hurt here.....ok, good job....now....

GIT EM BOYS!!! CLEAR CLEAR CLEAR...HUT HUT HUT...ON THE GROUND MUTHA FUCKA!!! TAZZ EM!!! BZZZZZ BZZZZ....AHHHH!!!! MOVE IN!!! TAKE THE SITE!!! NUKE EM FROM ORBIT!!! GO GREEN GO GREEN!!!!

ahhh
 Quoting: SHR



I know, but see what a fun fantasy it is.
HTCWiz

User ID: 787807
United States
10/30/2009 01:47 PM
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Re: !!!!!!!!!!!!! CIT HALTED !!!!!!!!!!!!!!! *** BANKRUPTCY by Sunday ***
[link to www.theflyonthewall.com]

This link is awesome:

News For CIT From The Last 14 Days

Check below for free stories on CIT the last two weeks.
There are 34 items on the Fly with pertinent information.

Latest story in the running thread:

13:31 EDT CIT theflyonthewall.com: CIT still "very likely" to file prepackaged bankruptcy on Sunday, CNBC says CNBC's David Faber reports that CIT is still "very likely" to file a prepackaged bankruptcy on Sunday, even with the news just announced regarding the company's reorganization plan with Carl Icahn.
~ America is a vast conspiracy to make you happy. ~
GlassPearls  (OP)

User ID: 613866
United States
10/30/2009 01:47 PM
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Re: !!!!!!!!!!!!! CIT HALTED !!!!!!!!!!!!!!! *** BANKRUPTCY by Sunday ***
CIT, Goldman reach agreement
Posted on October 30, 2009 12:33 PM

Struggling commercial lender CIT Group Inc. said Friday that it reached a deal with Goldman Sachs Group Inc. to reduce a $3 billion line of credit to $2.13 billion and also keep it open, under certain circumstances, should CIT file for bankruptcy.

New York-based CIT paid Goldman a $285 million termination fee for reducing the facility, according to a filing with the Securities and Exchange Commission. The agreement eliminates the unused portion of the credit line, and CIT put up $250 million of extra collateral, the company said.

[link to www.thedeal.com]
 Quoting: HTCWiz

This is total bullshit. GS should be barred from any involvement in this. "Certain conditions", eh?

If you listen hard enough, CxOs all across America are holding emergency meetings right about now. They're likely screwed as loans on their receivables start drying up.

Well, the doomers finally got their wish.
Anonymous Coward
User ID: 441568
United States
10/30/2009 01:50 PM
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Re: !!!!!!!!!!!!! CIT HALTED !!!!!!!!!!!!!!! *** BANKRUPTCY by Sunday ***
CIT gets $1 bln line of credit from Icahn



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.

[link to www.marketwatch.com]
Anonymous Coward
User ID: 743646
United States
10/30/2009 01:51 PM
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Re: !!!!!!!!!!!!! CIT HALTED !!!!!!!!!!!!!!! *** BANKRUPTCY by Sunday ***
Well, the doomers finally got their wish.
 Quoting: GlassPearls



Yep, once it becomes reality, we will want to go back to the good ol days.
HTCWiz

User ID: 787807
United States
10/30/2009 01:51 PM
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Re: !!!!!!!!!!!!! CIT HALTED !!!!!!!!!!!!!!! *** BANKRUPTCY by Sunday ***
[link to www.bloomberg.com]

Oct. 30 (Bloomberg) -- CIT Group Inc. bond and credit- default swap prices show that investors are betting the 101- year-old commercial lender will file for bankruptcy after the deadline for a debt exchange expired overnight.

Since CIT Chief Executive Officer Jeffrey Peek started a $30 billion debt swap Oct. 1, the company’s notes due Nov. 3 dropped 12 cents to 68 cents on the dollar, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority. Holders of the $500 million in notes were offered 90 cents on the dollar in new debt and equity in an out- of-court exchange that expired at 11:59 p.m. yesterday in New York. They would get 70 cents on the dollar in bonds and new stock in a pre-packaged bankruptcy.

“We believe they will file for bankruptcy within the week, provided nothing unexpected occurs,” Adam Steer, an analyst with CreditSights Inc. in New York, said in a telephone interview before the deadline passed.

CIT, which lost $5 billion in the past nine quarters and failed to get a second round of taxpayer funding in July, sought to avert collapse by asking bondholders to agree to the swap or vote for the pre-packaged bankruptcy. It faces opposition from billionaire investor Carl Icahn, who says he’s the largest bondholder, with $2 billion in debt. If CIT is forced into a “free-fall” bankruptcy, unsecured claims may fetch as little as 6 cents on the dollar, said Peek, who plans to leave the company at yearend.

Keith Rodwell, a spokesman for CIT in Sydney, declined to comment on the outcome of the debt-exchange offer. Curt Ritter, a company spokesman in New York, declined to comment yesterday.

##########

HAHAHA If the go bankrupt, Icahn will only get $.68 on the dollar for what he's invested. "Carl Icahn, who says he’s the largest bondholder, with $2 billion in debt."

Icahn's $2bil investment will now be worth only $1.36 billion. OUCH.
~ America is a vast conspiracy to make you happy. ~
Anonymous Coward
User ID: 441568
United States
10/30/2009 01:51 PM
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Re: !!!!!!!!!!!!! CIT HALTED !!!!!!!!!!!!!!! *** BANKRUPTCY by Sunday ***
CIT gets $1 bln line of credit from Icahn
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.

[link to www.marketwatch.com]
 Quoting: Anonymous Coward 441568


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."
Anonymous Coward
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10/30/2009 01:53 PM
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Re: !!!!!!!!!!!!! CIT HALTED !!!!!!!!!!!!!!! *** BANKRUPTCY by Sunday ***
Link pending.

UPDATE 1: CNBC cable news reporting that CIT bankruptcy is certain. Estimated to take 60-90 days to sort out.
 Quoting: GlassPearls

Dive us a link, fukface
just waiting

User ID: 491938
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10/30/2009 01:54 PM
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Re: !!!!!!!!!!!!! CIT HALTED !!!!!!!!!!!!!!! *** BANKRUPTCY by Sunday ***
For those who don't know who they are;
CIT Group, Inc. is a bank holding company. The Company's subsidiaries provide lending, advisory, and leasing services to small and middle market businesses. CIT also operates a full service Utah state bank, as well as provides factoring services through a subsidiary.
Say seeya to the small business.
Anonymous Coward
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10/30/2009 01:55 PM
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Re: !!!!!!!!!!!!! CIT HALTED !!!!!!!!!!!!!!! *** BANKRUPTCY by Sunday ***
Link pending.

UPDATE 1: CNBC cable news reporting that CIT bankruptcy is certain. Estimated to take 60-90 days to sort out.
 Quoting: GlassPearls


CIT is not halted. :bs:
Anonymous Coward
User ID: 782508
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10/30/2009 01:58 PM
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Re: !!!!!!!!!!!!! CIT HALTED !!!!!!!!!!!!!!! *** BANKRUPTCY by Sunday ***
Link pending.

UPDATE 1: CNBC cable news reporting that CIT bankruptcy is certain. Estimated to take 60-90 days to sort out.


CIT is not halted. :bs:
 Quoting: Anonymous Coward 241421



It WAS halted, then reopened after the news dissemination.





GLP