Rolfe Winkler

Why privilege derivatives?

October 6, 2009

Goldman Sachs has done it again, deftly navigating markets to maximize its own returns and leave others nursing losses.

CIT shareholders should take their money and run

July 20, 2009

NEW YORK, July 20 (Reuters) – Why did shares of CIT rally as much as 100 percent today? Presumably investors saw headlines with the word “rescue” and thought it made sense to take a flyer. This is foolish.

Why would CIT’s bondholders want assets transferred?

July 20, 2009

I noticed an odd paragraph in this morning’s WSJ story on bondholder plans to rescue CIT:

No rescue for CIT, taxpayers lose $2.3 billion

July 16, 2009

CIT’s press release this evening:

CIT Group Inc….has been advised that there is no appreciable likelihood of additional government support being provided over the near term.

Let CIT fail

July 13, 2009

As CIT hangs by a thread, some news outlets are reporting that it would be the biggest bank to fail since WaMu.  Measured by total firm assets this is true, but measured in terms of deposits, CIT is a fraction of WaMu’s size.  That’s why Sheila Bair is willing to let CIT go under.  And she’s right.