Rolfe Winkler

CIT files for bankruptcy (Wilchins/Comlay, Reuters) The $2.3 billion they got from TARP? It’s gone. We’ve known that for a while….another dagger in the heart of the we-made-money-on-TARP argument…

Senate health bill won’t reduce health costs as % of the economy (PGPF)

Can Citigroup carry its own weight? (Martin/Morgenson, NYT) “Over the past 80 years, the United States government has engineered not one, not two, not three, but at least four rescues of the institution now known as Citigroup.”

Aussie dollar channeling Yuan shows increased trading in China (Zachariah/Goodman, Bloomberg) The Aussie currency is in good shape thanks to strong demand for the country’s national resources. Look for another rate increase there today.

PA judge accepted millions in kickbacks to send juveniles to private jails (AP)