tagged w/ cit
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It has been an interesting few weeks for stock investors, they are doing their best to predict what can be expected of consumers in the fourth quarter, but for now, it’s still hard to tell. And the famous Cash for Clunkers program caused an explosion in car sales and made it hard to tell how the economy was truly doing under all these temporary boosts in sales. It’s been a whirlwind in the market last week, and the majority of the concerns come down to the consumer. Will we be able to lift ourselves out of this economy? That’s what investors are dying to figure out.
CIT was a participant in the Troubled Asset Relief Program and received $2.33 billion in December. This bankruptcy is the first government loss from TARP. However, CIT plans to stay in business and hopefully return from bankruptcy next year. High profile clients like Dunkin Donuts and Dark Castle Entertainment are counting on it.
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