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Mega-Lender CIT Files Chapter 11

Bailed-out firm's move will cost government $2.3B

By M. Morris, Newser Staff

Posted Nov 1, 2009 4:43 PM CST

(Newser) – CIT Group, a major lender to small and medium-sized American businesses, filed for Chapter 11 today. The move means the government is most likely out the $2.3 billion in TARP bailout funds it put up last year. The "prepackaged" procedure is intended to... Read full story »

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Carl Icahn • bankruptcy • bailout • Chapter 11 • Troubled Asset Relief Program • Wall Street bailout • TARP • Jeffrey Peek • bankruptcy protection • CIT Group

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Mega-Lender CIT Files Chapter 11

Bailed-out firm's move will cost government $2.3B

Carl Icahn • bankruptcy • bailout • Chapter 11 • Troubled Asset Relief Program • Wall Street bailout • TARP • Jeffrey Peek • bankruptcy protection • CIT Group

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Bank plans $10.4B stock sale; move will boost EPS

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Editorial board schools Goldman CEO in true meaning of 'sorry'

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