Comments on: CIT Group had Friends, but Not Enough http://wallstreetpit.com/8489-cit-group-had-friends-but-not-enough Wed, 08 Feb 2012 22:13:42 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Fred http://wallstreetpit.com/8489-cit-group-had-friends-but-not-enough#comment-36565 Fred Fri, 17 Jul 2009 23:08:40 +0000 http://wallstreetpit.com/?p=8489#comment-36565 There's a chance private money could save CIT, but clearly the odds are long. It's amazing how firmly bondholders stick to their guns in these situations. The cents on the dollar they will get in bankruptcy is way below what the stock they get would be worth if they let go for a while. So the risk on this stock now is whether the bondholders will take the leap and give themselves a chance. Plus outside money that's willing to wait until the recovery kicks in. There’s a chance private money could save CIT, but clearly the odds are long. It’s amazing how firmly bondholders stick to their guns in these situations. The cents on the dollar they will get in bankruptcy is way below what the stock they get would be worth if they let go for a while.

So the risk on this stock now is whether the bondholders will take the leap and give themselves a chance.

Plus outside money that’s willing to wait until the recovery kicks in.

]]> By: Austin http://wallstreetpit.com/8489-cit-group-had-friends-but-not-enough#comment-36036 Austin Thu, 16 Jul 2009 19:18:51 +0000 http://wallstreetpit.com/?p=8489#comment-36036 As my friend George said "Here's another one of those bank earnings reports that has me looking for something stronger than the ViceGrips to pinch myself with. "JPMorgan Chase posts 2Q profit, surpasses Street." Not to text rude here, but WTF were the folks in Washington on when they a) Gave $25 billion in bailout money to JPM-Chase and b) Who ran Lehman into the ground so JPM-Chase buy them for $2-bucks a share? Don't want to sound overly conspiracy-minded here (who me?) but say, you don't think this is another attempt by the rest of the bankster mob to drive out competition and/or beat down an asset price so someone in the mob's inner circle an scoop them off the bankruptcy court steps at a wholesale (or better) price? Naw...perish the thought. I must be a whacko for even letting such a thing enter my thinking" As my friend George said

“Here’s another one of those bank earnings reports that has me looking for something stronger than the ViceGrips to pinch myself with. “JPMorgan Chase posts 2Q profit, surpasses Street.”

Not to text rude here, but WTF were the folks in Washington on when they a) Gave $25 billion in bailout money to JPM-Chase and b) Who ran Lehman into the ground so JPM-Chase buy them for $2-bucks a share?

Don’t want to sound overly conspiracy-minded here (who me?) but say, you don’t think this is another attempt by the rest of the bankster mob to drive out competition and/or beat down an asset price so someone in the mob’s inner circle an scoop them off the bankruptcy court steps at a wholesale (or better) price? Naw…perish the thought. I must be a whacko for even letting such a thing enter my thinking”

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