Commercial banking giant CIT files for Chapter 11 bankruptcy protection~!!!!

[ballad]

This sounds like what Egypt did to the Jews. They had a famine and sold all their property to stay alive and then were enslaved.

If that were History, yes........

However , it is not.

[IndianGirl]

USSA...

[risquebznss]

I'm looking pretty hard at the factoring biz.  There are plenty of decent businesses w/ customers that have ability to pay, but fewer alternatives for credit.  Means higher margins.  I'm looking at doing syndicate type stuff for small/regional banks to dip their toes in.   Carl Icahn is trying for the big play, I'm trying to bite off a small chunk.  The downfall is that the entire economy experiences an armageddon in short order.   I think there are some good quality customers in the factor biz.  Note that CIT strayed from that biz plan and went into aircraft, rail leasing, subprime, student loans foolishly just to grow their asset base.