Happy 25 Cents a Share CIT Group - theStockMasters

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Happy 25 Cents a Share CIT Group
Nov 03, 2009 05:03 PM UTC

theStockMasters

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Via The StockMasters - Investing News and Analysis, Hot Stock Tips, Stock Market commentary for the Savvy Investor:

Got a quarter? You're in luck, you can buy one share of CIT Group (NYSE:CIT). CIT shares are down 63% since last Friday and doomed thanks to the company's filing for the 5th largest U.S. bankruptcy on Sunday. Thank you U.S. Taxpayer, remember how we forked out $2.3 billion in TARP funds to buy CIT's common stock, those same shares that are valued at 25 Cents today? Well, kiss that money good-bye thanks to CIT's Chapter 11 filing, we aren't getting a penny back, that's right, welcome to..

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