...while we know what happens to firms on Wall Street that help no one but themselves and not only own politicians, but have their people working in the highest levels of government. CIT Group backstops the business operations of 900,000 small U.S. businesses, many of the small, and the backbone of the U.S. economy. It allows merchants to conduct the very fundamentals of their business operations. We are just like Rome, in its decaying phase, rotting like a fish, from the innards out, with the beltway insulated from the real world American, totally clueless about the real extent of pain average Americans are going through, and unbothered at any rate as they live in a comfortable bubble paid for by the criminals on Wall Street and Madison Avenue.
LOL. There are dozens of companies itching to get a piece of this. The reason they will be left to fail is that the financial powers that be want to get some of CIT's business.
You beat me too it. Hard to believe the gvmnt can't get the TARP banks to help out here after giving them $787,000,000,000.
Look, the reality is that those companies that were bailed out DID fail. The difference is that they are being allowed to exist in a zombie-like state at our expense. That's not how capitalism works. What we have now resembles capitalism less and less and fascism more and more. Politicians and not skill and luck choose who wins and who loses.
Oh please, cry me a river. CIT's immense growth is a product of the real estate bubble and its demise is the product of the real estate crash. Their main operations are real estate, construction, development, acquisition and factoring. If your business depends on their credit lines/loans/factoring you probably don't have a worthwhile business in the first place.
Interesting how now the govt is letting companies file bankruptcy now, instead of lots of bailouts early on the recession. Of course BK laws are in place for a reason and the govt forced some mergers on some companies, but now that we got a big bounce off the bottom, it's biz as usual..........plus we're probably out of money. Or maybe Obama and Rahm shook the Magic 8 Ball and it came out......... http://web.ics.purdue.edu/~ssanty/cgi-bin/eightball.cgi
The one time the government fails to play superhero happens to be the time I have an interview with the delinquent firm today at 1:30... That's gonna be awkward. Just my luck.