CIT files for bankruptcy protection – MarketWatch
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Has it really been almost a year since I posted last!! What a slacker.. or not!
Not over yet! We still have commercial lending to wade through. Sqeeeezing out small and medium business if they are not liquid enough. I should read the article before I post it, but I’m pretty sure I know what it is going to say….
Really!?? —-> “The bankruptcy is not likely to upend the broader U.S. economy”
But what about??? —–> “CIT’s bankruptcy… — the biggest loss from TARP so far…. $2.3 billion it (Treasury Department aka. taxpayer’s FUTURES) invested.”
SO if you are an economic enthusiast like I am.. Leave some thoughts on the repercussions of the resulting mergers and acquisitions that are inevitable in commercial lending.
What is so familiar about his one…?
“More importantly, CIT was one of the largest nonbank lenders in the world, a big part of the so-called shadow banking system that collapsed when the financial crisis erupted last year.” —- https://selfinterests.wordpress.com/2008/06/20/banking-10-trillion-shadow-world/
Can you say 10 TRILLION class??
This is also a good place to find info on the largest financial crisis since the Great Depression. http://wapedia.mobi/en/Financial_crisis_of_2007–2009 Don’t forget to open a new tab and brush up on your financial vocab!!
Great quotes like this one!! -“Since peaking in the second quarter of 2007, household wealth is down $14 trillion”
Eureka! Here is what I was looking for!! -In a Peabody Award winning program, NPR correspondents argued that a “Giant Pool of Money” (represented by $70 trillion in worldwide fixed income investments) sought higher yields than those offered by U.S. Treasury bonds early in the decade. (Thanks wapedia!)
Listen– http://www.npr.org/templates/story/story.php?storyId=90327686&ps=rs
Supply and Demand are the most basic functions of the economic system. When you try to BECOME the “Invisible Hand” it will inevitably be bitten… Greed you dirty dog…
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