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Guest_chris c-t_*

Cit Group Suspended

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Go on... admit it... I'm not the only one who read "Cit", mentally added another letter, then swore pretty loudly...

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Go on... admit it... I'm not the only one who read "Cit", mentally added another letter, then swore pretty loudly...

Yeah, could be a good time to short CITI? :P

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US officials fear CIT situation has worsened-source

Wed Jul 15, 2009 4:31pm EDT

WASHINGTON, July 15 (Reuters) - U.S. officials are still exploring providing government assistance to CIT Group (CIT.N), but are increasingly concerned that conditions at the lender have deteriorated too far, according to a source familiar with government talks.

The source said Treasury Department officials are concerned that CIT's liquidity crunch has worsened over the past few days and that government aid would not effectively put the lender on a path to recovery.

A resolution for the lender's liquidity problems is expected in the next 24 hours and could end in a bankruptcy filing, the source said, speaking anonymously because the situation is still fluid. (Reporting by Karey Wutkowski and Rachelle Younglai; Editing by Tim Dobbyn)

http://www.reuters.com/article/bondsNews/idUSWEN064720090715

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there were rumours(I think) on TF twas they that borrowed overnight money at 7% on june 30 2009,coming in at an annualised 2555%

Is it contained do you think? Or could things get fugly on the back of this?

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the quoted overnight rates are already annualised!

edit: ps pedantic aside, if the figures weren't annualised, and it really was 7% p.d. (compounded), that would be 53098084597% - approx!

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  • 294 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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