CIT failure could be Main Street's version of Lehman collapse

07/17/2009 | TIME (subscription required)

A collapse by CIT Group could restart the financial crisis, some economists and market observers said. "A CIT failure will mean to Main Street what Lehman Brothers meant to Wall Street," said Van Haroutunian, a lawyer at Ballon Stoll Bader & Nadler. CIT is closely linked to the financing of hundreds of thousands of small businesses.

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