CIT is drawing on its bank lines.......to the tune of $7 billion. No worries - it's just the economy "turning down sharply." CIT's 52-week high is $61/share, and now it's under $10/share.
"No, No, No, Don't move your money from Bear, that is being silly, don't be silly, Bear Stearns is fine, Bear Stearns is not in trouble..."
March 21, 2008
CIT Bites the Credit-Crunch Dust
Posted by Karen De Coster