Wednesday, July 15, 2009

CIT Left For Dead; Geithner Discovers He Has At Least One Nut

Well, we apologize to "Mister" Geithner (for now...). WSJ reporting CIT is as good as done. All available lines will be drawn by customers. Losses won't be able to be replaced with new capital and the tens of billions of debt repayments due in the next 24 months tell the story.

CIT, we hardly knew you.