July 17, 2009
Cit Group Not "Too Big to Fail"
Cit Group, a lender to small and medium businesses, a major factor, asked for and was refused TARP funds this week. It was not "too big to fail"; it was "too little to bailout." The company was only 1,900th in size. Small business is furious, claiming that Treasury will only bailout the big players on Wall Street with lobbying clout and the big manufacturers with labor clout. Conspiracy theorists are having a field day with last week's announcement of Goldman Sachs' profits; Goldman receivedd TARP money. I do not know who is correct but whenever the government decides to call the winners and loser in the financial markets, hard feelings and conspiracy theory are inevitable.
July 17, 2009 | Permalink
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