CIT Looking Hard At Bankruptcy

CIT, as many have suspected, is looking very hard at the possibility of bankruptcy. To be honest, I don't know how companies like this and Capmark are able to still be standing. I suppose it was because of TARP, but it seems like an awful waste to toss so much money at these companies just to delay the inevitable...

Banks Aren't Insolvent... Right?

If a bank needs to borrow money at 7% then I imagine that bank isn't in grand shape. I can get money cheaper than 7%! Luckily Karl Denninger is keeping his eyes open and caught this. There is absolutely no reason why a bank should need to borrow money at that kind of rate! I'm including a link to his article below.

http://market-ticker.denninger.net/archives/1177-BOOM!-More-Obfuscation.html