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CIT has again managed to Insult the Investor

|Includes: CIT Group Inc. (CIT)

This time it is by naming John Thain CEO.

Just a short time ago Mr. Thain made a call for his bonus at the start of the recession; while the masses were concerned about job loss due to companies crumbling.

In cases like this we have to examine the implications of such a decision not just on the bottom line of CIT, but our society.

What happens when a CEO who does not care about the impact of his decisions now runs another major financial industry at time when credit markets are still tight for small business and the general population?

http://finance.yahoo.com/news/CIT-names-exMerrill-CEO-Thain-apf-4122357615.html?x=0&sec=topStories&pos=1&asset=&ccode=

Disclosure: "No Positions"