给熊熊打打气：CIT: Government Support Unlikely

小亥

CIT: Government Support Unlikely
Update 2: WSJ is reporting that a Treasury official says that theU.S. expects to lose entire TARP investment in CIT ($2.3 billion). Ithink that means a BK is certain, probably before the market openstomorrow.

From MarketWatch:

CIT says government support unlikely near term
CIT says board, management evaluating alternatives
CIT: Appears no likelihood of add't gov't support
CIT: Talks with government agencies have ceased

Bankruptcy is probable.

Update: CIT Press Release:

CITGroup Inc., a leading provider of financing to small businesses andmiddle market companies, today announced that it has been advised thatthere is no appreciable likelihood of additional government supportbeing provided over the near term.

The Company’s Board of Directors and management, in consultation with its advisors, are evaluating alternatives.

小亥

Government wants to let GS take a big bite after its BK.

hithere

MM might have known this before pumping up the market today. .Those guys are just not trustworthy.

mary666

ding