CIT files for 5th largest U.S. bankruptcy

[somdrenter]

Now that's $2.3B well spent....

CIT files for 5th largest U.S. bankruptcy

Small business lender seeks court approval for a debt reorganization that has approval of bondholders.

NEW YORK (CNNMoney.com) -- CIT Group Inc., one of the nation's leading funders of small and medium-sized businesses, filed for the fifth largest bankruptcy by assets in U.S. history Sunday as part of a reorganization plan that has the support of an overwhelming majority of debtholders.

CIT files for bankruptcy as part of reorganization plan - Nov. 1, 2009

 

[Tilted]

I wonder why the government is choosing not to subordinate the law in this case in order to make sure that taxpayers get their $2 Billion back.

 

[somdrenter]

I wonder why the government is choosing not to subordinate the law in this case in order to make sure that taxpayers get their $2 Billion back.

$2 Billion ain't what it used to be....