The AP reports Trading halted in CIT shares:
Trading in the shares of crippled commercial lender CIT Group Inc. was halted on the New York Stock Exchange late Wednesday afternoon.
A trading halt often occurs when news about a company is about to be released.
Regulators have been poring over the books at New York-based CIT trying to determine which of its assets remain strong enough to secure emergency financing.
The company has been teetering on the brink of a bankruptcy filing as its assets decline in value and a large debt payment looms.
Industry and government officials say representatives from the Treasury Department, Federal Reserve and Federal Deposit Insurance Corp. have been meeting to discuss plans for a possible rescue of CIT.
Time for more corporate bailouts. Yipeee!
On a side note: Just as an example, please consider the phoney argument of an “independent” Federal Reserve Bank raised against auditing it in light of what I highlighted above.
3 thoughts on “CIT Group – Trading Halted”
Another bailout only makes sense … as much as it did to bail out Goldman Sachs that declared a 3 billion profit just yesterday.
I think we all agree that Henry Paulson should receive a little somethin’ for that. Maybe Bernanke too …
Before I forget … maybe Hank Paulson should even take a shot at running for the next US presidency … together with Bernie Madoff as Vice President.
For some odd reason all these guys have nicknames. It kind of makes me think why.
Goldman’s orphan month and more will come back at them sooner or later. http://www.economicsjunkie.com/goldmans-orphan-month/