Word: cit
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...with many small banks' capital constraints - money they would lend is still tied up in those real estate loans. Just as important, though, other places business owners have looked to for funding in recent years, like home-equity loans and credit lines from nonbank finance companies like CIT, aren't likely to bounce back to their former glory anytime soon...
...Monday, John Thain, who was Merrill's chief executive when the firm sold to BofA, got the top job at troubled lender CIT. Thain said he was interested in the opportunity to revitalize the small-business lender. "CIT can and will serve an important role in the recovery of the U.S. economy and the creation of jobs," Thain told reporters...
Uncle Sam is out some $2.3 billion in bailout funding following the bankruptcy of CIT, a major lender to small and medium-size businesses. The Nov. 1 filing by the century-old firm marks the government's first loss stemming from the Troubled Asset Relief Program (TARP), designed to stabilize major businesses during the height of the economic meltdown. CIT says it hopes to emerge from bankruptcy by year's end. More government losses could follow as bailout recipients such as Chrysler and AIG continue to struggle. Still, analysts say it could have been worse: CIT sought more bailout funding...
Even with a treaty, though, high profile extraditions can take years to complete. Hermine Braunsteiner Ryan was living in New York Cit? in 1964 when authorities discovered she had actually been a guard at Ravensbruck, a Nazi concentration camp. She was stripped of her U.S. citizenship but the slow legal process - both Germany and Poland wanted to extradite her - kept her in the the country until 1973, when she was finally sent to West Germany. And even though former Panamanian general Manuel Noriega finished his U.S. prison sentence in 2007, he still remains in jail while the legal system decides...
...After a number of months of relative calm, the likely CIT bankruptcy serves as a reminder that a number of issues of the financial crisis have yet to be resolved. Among the things that analysts and economists are still worried about are the hundreds of billions of dollars in commercial real estate bonds that face defaults, a continued stream of small-bank failures and the rising unemployment rate...