Sunday, November 1, 2009
CIT FILES FOR 5th LARGEST US BANKRUPTCY!
Was there any doubt????
The house of cards is falling apart, CIT largest lender to small, medium size businesses, this will halt major growth, the commercial real estate industry is imploding, this will take many more down with them.
This has to happen, debt levels are rising way higher than they should, these companies have to pay for taking these kinds of risks. The system needs a good rinse and repeat.
Down we gooooooo