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Article: US corporate lender files for largest bankruptcy in American history.
- Article from:
- The Daily Star (Beirut, Lebanon)
- Article date:
- November 3, 2009
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Byline: Daily Star Staff
Summary: CIT Group Inc., a lender to hundreds of thousands of small and medium-sized businesses, filed for bankruptcy on Sunday, as the global financial crisis left it unable to fund itself and the recession clobbered its loans.AaThe bankruptcy, one of the largest in US corporate history, has been widely expected for months and is unlikely to provide a massive near-term shock to the financial system.
Dan Wilchins and Elinor ComlayAa
ReutersAa
Aa
NEW YORK: CIT Group Inc., a lender to hundreds of thousands of small and medium-sized businesses, filed for bankruptcy on Sunday, as the global financial ...