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 Economic & Business News, Reports, and Predictions
 CIT files for Chapter 11 bankruptcy protection
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aloneibreak
Penny Collector Member


USA
380 Posts

Posted - 11/01/2009 :  17:02:36  Show Profile Send aloneibreak a Private Message  Reply with Quote
http://www.newser.com/article/d9bmvop02/cit-group-seeks-prepackaged-reorganization-in-new-york-bankruptcy-court.html


knew it was coming. surprised they made it this long.



My reading of history convinces me that most bad government results from too much government.
Thomas Jefferson

HoardCopperByTheTon
Administrator



USA
5253 Posts

Posted - 11/01/2009 :  17:13:16  Show Profile Send HoardCopperByTheTon a Private Message  Reply with Quote
But I thought they were "Too Big to Fail."

The DeathStar was "Too Big to Fail."

If your percentages are low.. just sort more. If your percentages are high.. just sort more.

Let me see if I understand this? If you cross the North Korean border illegally, you get 12 years hard labor; the Iranian border illegally you are detained indefinitely. If you cross the US border illegally, you get a driver’s license, a social security card, welfare, food stamps, free health care!



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Bluegill
1000+ Penny Miser Member



USA
1480 Posts

Posted - 11/01/2009 :  17:22:51  Show Profile Send Bluegill a Private Message  Reply with Quote
This was so predictable. You can't tell me this wasn't planned this way right from the start. Everybody knew they could never pay the government money back, but we gave it to them anyway. Now as planned, they go chapter 11. It was outright deliberate theft. I'm too numb from this graft and corruption and the sheeple who fall for this every time to even get mad or care anymore.


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HoardCopperByTheTon
Administrator



USA
5253 Posts

Posted - 11/01/2009 :  18:03:23  Show Profile Send HoardCopperByTheTon a Private Message  Reply with Quote
Probably nobody on this forum is surprised. But there is probably somebody somewhere that fell for it.

If your percentages are low.. just sort more. If your percentages are high.. just sort more.

Let me see if I understand this? If you cross the North Korean border illegally, you get 12 years hard labor; the Iranian border illegally you are detained indefinitely. If you cross the US border illegally, you get a driver’s license, a social security card, welfare, food stamps, free health care!



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jonflyfish
Penny Hoarding Member



USA
551 Posts

Posted - 11/01/2009 :  20:55:54  Show Profile  Send jonflyfish a Yahoo! Message Send jonflyfish a Private Message  Reply with Quote
Yeh, long winded life support for a failed heartbeat.

The first panacea for a mismanaged nation is inflation of the currency; second is war. Both bring a temporary (and false) prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunities.
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