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REPORT ABUSIVE REPLY
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Message Subject
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!!!!!!!!!!!!! CIT HALTED !!!!!!!!!!!!!!! *** BANKRUPTCY by Sunday ***
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Poster Handle
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GlassPearls |
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Post Content
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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] 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.
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