CIT Files for Bankruptcy — Taxpayers Could Get Screwed
November 1, 2009 at 11:13 AM Leave a comment
The Fortune 500 company, CIT, filed for bankruptcy protection today. (CIT is not to be confused with Citigroup) What gets me is this:
One loser from a bankruptcy would be the U.S. Treasury. Late last year it injected $2.3 billion of funds from the Troubled Asset Relief Program … The government investment is likely to be wiped out …
These shysters have known all along that there were things they could do to get out of repaying us.
Entry filed under: Financial Crisis. Tags: .
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