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BREAKING: CIT Group (CIT) cuts deal with key bondholders for $3B in financing, will avoid...

BREAKING: CIT Group (CIT) cuts deal with key bondholders for $3B in financing, will avoid bankruptcy and restructure outside court. (WSJ)
Comments (8)
  • Market Sniper
    , contributor
    Comments (668) | Send Message
     
    There ya go! Tried and true. When Bk, just borrow more! LOL...Like the old saying, when you owe the bank a few buck, they have you by short hairs. When you owe the bank a ton, you have THEM by the short hairs.
    19 Jul 2009, 05:34 PM Reply Like
  • RiskReturnOptimizer
    , contributor
    Comments (572) | Send Message
     
    PIMCO is major owner of CIT bonds, and has been advocating "investing alongside US government." This time it seems like US gov't is not playing anymore (willing to lose the TARP money) ... so PIMCO has stepped up the plate to get CIT another chance ... let's see how the deal looks when its formally announced tomorrow.
    19 Jul 2009, 05:37 PM Reply Like
  • BullnBear
    , contributor
    Comments (255) | Send Message
     
    Any thoughts on why PIMCO and Goldman seem to be involved in every deal that gets done these days?
    19 Jul 2009, 06:16 PM Reply Like
  • Market Sniper
    , contributor
    Comments (668) | Send Message
     
    No idea. ROFL

     

    On Jul 19 06:16 PM BullnBear wrote:

     

    > Any thoughts on why PIMCO and Goldman seem to be involved in every
    > deal that gets done these days?
    19 Jul 2009, 06:19 PM Reply Like
  • fed_alchemy
    , contributor
    Comments (245) | Send Message
     
    Were Pimco and GS two of the PPIP authorized dealers
    19 Jul 2009, 06:30 PM Reply Like
  • Illusional Delusion
    , contributor
    Comments (346) | Send Message
     
    They are the only one with direct access to the printers

     

    On Jul 19 06:19 PM Market Sniper wrote:

     

    > No idea. ROFL
    19 Jul 2009, 07:05 PM Reply Like
  • FloridaBoy2
    , contributor
    Comments (308) | Send Message
     
    Perhaps Goldman has a conscience?...nah....h... they are one of the few solvent players. PIMCO will most likely get a better return if CIT stays out of court.

     

    On Jul 19 06:16 PM BullnBear wrote:

     

    > Any thoughts on why PIMCO and Goldman seem to be involved in every
    > deal that gets done these days?
    19 Jul 2009, 07:36 PM Reply Like
  • Jolly_Rancher
    , contributor
    Comments (545) | Send Message
     
    Because they didn't buy bond default insurance on their CIT debt. If they had, it would have required another gov. bailout.

     

    On Jul 19 06:16 PM BullnBear wrote:

     

    > Any thoughts on why PIMCO and Goldman seem to be involved in every
    > deal that gets done these days?
    19 Jul 2009, 07:59 PM Reply Like
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