Thursday, November 13, 2008

Chronicles Of Depression 2.0: #401: CIT Group

CIT Group seeks bank holding company status
NEW YORK (AP) -- CIT Group is applying to the Federal Reserve to become a bank holding company.

CIT, a commercial finance company, is also applying to receive funds as part of the government's $700 billion bank rescue program, contingent upon being granted bank holding company status by the Fed.


The Feds better put the brakes on this bullshit ASAP.

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