Saying no to CIT a big gamble for Team Obama

Saying no to CIT a big gamble for Team Obama

www.reuters.com

...U.S. officials are gambling that financial markets and the economy are now strong enough to withstand the possibility a big lender collapses.
...

"The company's collapse would certainly ripple through thousands of small and medium businesses that rely on CIT for trade financing and lending," Gail Dudack, chief investment strategist at Dudack Research Group, told clients.

"This raises the risk of more bankruptcies and more unemployment.. significant negative for an already fragile economy"

(visit the link for the full news article)


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www.democraticunderground.com
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Related AboveTopSecret.com Discussion Threads:
Refusing Bailout For CIT, Gov't Draws Line In Sand

This is a follow up to my thread on the governments decision to exclude CIT from bailout spending. This article does a great job outlining the issue, and the "risk" that the Obama administration is now taking with one of its biggest lenders.

They are putting their faith and the future of the country in the economy not failing again! Anyone whose anyone, even those who aren't as skeptical of market manipulation as some of us, knows that the markets are nowhere near stable enough to warrant letting a major lender fail.

They are shooting us in the foot, and they most definitely know it. The fact that this is being worded as it is in the MSM says that people are nervous.

www.reuters.com
(visit the link for the full news article)

"Learn to make money the old fashioned way.
To earn it."

The old Smith Berny ad until Blomberg skipped with his clients
and ordered a data line.

Risk management must be at a new low.

All while CNBC is busy telling their 20 million viewers that CIT Group does not pose any systemic risk...What is it they're trying to do??? They're trying to pump the market by using propaganda...

reply to post by projectvxn


exactly. People are not thinking common sense. Instead, they see the headline and invest their faith in it. All the wile, they are completely missing the information being presented and the situation we are being put in. The markets pulled through today because articles about positive investor confidence were up hours before the closing bell.

I don't like to see a blatant flag like this ignored, because it means big things for the future of our country. In my opinion, our economy is beyond salvageable, and taking out lenders is the worst thing for us at this point.