Comments on: The real lesson of CIT

By: gd

gd — Mon, 20 Jul 2009 09:38:23 +0000

CIT failing, CIT failing, CIT failing. OH ! JP Morgan came and saved the day with financing. The markt have recovered they say. WHAT BS. how much pressure was applie to its lenders( who all benifieted from the bailouts) How much arm twisting did Tim do??????

By: Tim Rutjes

Tim Rutjes — Sat, 18 Jul 2009 13:00:57 +0000

I’m not a bailout advocate for anyone, but I fail to see the difference between the behavior exhibited by CIT with those of the “too big to fail” institutions. With $80B pumped into AIG and a 9.5% unemployment rate, this argument of “systematic failure” and “things would be a lot worse” just doesn’t hold up. CIT is the largest lender in the country to small and med sized business, if anything, this is an illustration of how the Obama administration is attempting to close the door on anyone with aspirations to become more than middle class. Wall Street bailout= Good. Small Business bailout= Bad.

By: Lisa

Lisa — Fri, 17 Jul 2009 22:11:47 +0000

It’s not surprising that executives at these banks failed to react to changing market conditions, when you consider the fact that they were going to get paid anyway. These people don’t live on the same planet as the rest of us. They make incomprehensible money irrespective of their performance. They probably thought they were bullet-proof.

By: Henk P Hofer

Henk P Hofer — Thu, 16 Jul 2009 23:28:28 +0000

Excellent understanding of the high risk fast money reward attitude. Great article. Great concise analysis.

By: Katje

Katje — Thu, 16 Jul 2009 21:40:27 +0000

http://www.bbc.co.uk/blogs/thereporters/ robertpeston/2009/07/why_bankers_arent_w orth_it.html