Many challenges face CIT after exit from bankruptcy

12/11/2009 |

Questions still surround CIT Group even though the lender to small and midsize businesses emerged from bankruptcy after only 38 days. The plan relies almost exclusively on money from private investors, and CIT will get no monetary help from regulators. CIT went into bankruptcy despite $2.3 billion in government aid, a debt that was dismissed during the bankruptcy. The firm also needs to find another CEO.

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