ATLBob

CIT: The Fleecing Continues

With all due respect, the time to sell shares in CIT was some time ago. There have been many clear signals to avoid and/or sell CIT and realize at least a modest payment for shares before the entire house of cards collapsed. Anyone who held on or who purchased CIT shares hoping for a miracle wasn't investing: they were gambling and hoping for the best. From a Company perspective, the pre-packaged bankruptcy is the most 'clean' means of regrouping and having a fresh start; unfortunately, that reality equates to a complete wipe-out for any shareholders who unwisely held onto shares of CIT.