Tuesday, Oct 13, 2009

Still failing in the US?

Bloomberg: CIT Says Chief Executive Peek to Resign at Year-End

CIT Group Inc., the 101-year-old lender that may file for bankruptcy protection, said Chairman and Chief Executive Officer Jeffrey Peek plans to resign. The U.S. government rejected a second bailout for CIT after committing $2.33 billion in taxpayer funds in December to keep the lender afloat. The company turned to bondholders in July after it was denied access to the Federal Deposit Insurance Corp.’s program to sell U.S.-backed debt.

Posted by tyrellcorporation @ 04:28 PM (590 views)
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