I find that hard to believe. yeah, keep buying SUCKERS! When the news comes from the banks holding or lending to them (my guess C and BAC, they seem to THRIVE on bad loans/investments). This stock will rapidly move to 10 when the REALITY of CIT comes out.
Sure they will...lol. And they will add BILLIONS more to thier bad debt on their balance sheet. Long term dont matter on this thing, if their short term debt obligations choke them, you MAY see the largest US bank follow the same route of chapter 11, with almost complete govt ownership due to the requirment of banks to be in business.
Current stockholders AND bondholders would be OBLITERATED!
um, yeah, sure. I think you are the one that needs to awaken my friend. There is MUCH that has been kept under wrap - the govt/taxpayers have over 3 BILLION in CIT - I guarantee you much was kept quiet! Especially if C and BAC (also receiving TARP funds) had direct exposure to them.
WAIT AND SEE and MARK my words! BUY BUY away....lol