Give me more Damn bailouts, CIT in talks on more aid.

Discussion in 'Wall St. News' started by S2007S, Jul 14, 2009.

  1. S2007S


    Got to love this Fuc$king country, prop up every fuc$king failing company and try to revive them of their misery. There is ZERO fear in a market that is manipulated and propped up. What happens when you do NOT let the pieces of the puzzle fall where they may?

    CIT rallies on report government in talks on aid
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    Banks CIT Group Inc
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    Alert Email Print Share By Alistair Barr

    SAN FRANCISCO (MarketWatch) -- CIT Group Inc. (CIT 1.70, +0.35, +25.93%) shares rallied 25% during late trading Monday after the Wall Street Journal reported that U.S. government officials are in "advanced" talks about aiding the troubled lender. The discussions are fluid and it remains unclear if a final deal can be brokered and, if so, how expansive it might be, the newspaper noted, citing unidentified people familiar with the matter. One possible source of aid would be a Federal Deposit Insurance Corp. program that guarantees new-debt issuance, but the FDIC has been reluctant to extend this to the company because of its financial weakness, the Journal said. The Treasury Department and Federal Reserve are more supportive of such a move, the newspaper added, citing several people familiar with the process. It is unclear whether the FDIC will soften its position. The company isn't currently seeking more bailout funds, a person familiar with the matter told the Journal. CIT shares rallied 25% to $1.69 in late action on Monday.
  2. taipan77


    I know what your talking about what people fail to realize is that all these bail outs and public expenses causes the rest of us to have to pay for it and lower our quality of life. I remember when I was in junior high the engineers had that baddest cars and houses and now that I've become an electrical engineer I'm able to buy a house in the crummiest areas of san diego. This is all in the name of fair that nobody should live better than other people who do drugs and have lots of kids. Wow what is our country becoming.
  3. But least they are not bailing out the states right? I guess that because states cant give you kickbacks for bailout money without everyone knowing it.
  4. the1


    The government has no choice but to bail out CIT. If they go under they will bankrupt the FDIC, which will send bigger shockwaves through the country so they can either bail CIT now or bail the FDIC later. Which one leaves them with less egg on their face?