The AP reports Trading halted in CIT shares:
Trading in the shares of crippled commercial lender CIT Group Inc. was halted on the New York Stock Exchange late Wednesday afternoon.
A trading halt often occurs when news about a company is about to be released.
Regulators have been poring over the books at New York-based CIT trying to determine which of its assets remain strong enough to secure emergency financing.
The company has been teetering on the brink of a bankruptcy filing as its assets decline in value and a large debt payment looms.
Industry and government officials say representatives from the Treasury Department, Federal Reserve and Federal Deposit Insurance Corp. have been meeting to discuss plans for a possible rescue of CIT.
Time for more corporate bailouts. Yipeee!
On a side note: Just as an example, please consider the phoney argument of an “independent” Federal Reserve Bank raised against auditing it in light of what I highlighted above.
