loo @atp: CIT systemically important?
---quand je lis ca j'ai lu ça, je me suis dit "Government Sachs ne sauve pas n'importe qui, uniquement les contreparties de GS, bye bye CIT ". http://www.bloomberg.com/apps/news?pid=newsarchive&sid=av0oK2D8zQgg ---
Fitch Ratings has warned that CIT may default as soon as April 2010 when a US$2.1 billion credit line matures. CIT applied to access the FDIC's bond guarantee program in order to access debt markets but as of July 13 the FDIC hadn't given their consent due to credit risk concerns. CIT is a small business lender and it argues that its demise would be disruptive for the real economy. Timothy Geithner said that Treasury has the authority and the ability to intervene if it chooses to do so.
---et puis j'ai lu ça, et j'ai revu mon jugement: "bien joué CIT, tu es définitivement ce que Government Sachs appelle systemically important". http://ftalphaville.ft.com/blog/2009/07/14/61751/us-in-talks-to-rescu ---
The crisis at CIT, one of the largest US middle-market lenders, worsened on Monday with the company talking to regulators about ways to stave off failure while its credit ratings were cut deeper into junk territory A failure at CIT could result in losses for Goldman Sachs and Wells Fargo, the FT said. Goldman last year agreed to a $3bn secured financing facility for CIT and Wells Fargo provided $500m in secured financing. The WSJ said US government officials were in advanced talks about providing some sort of aid to the company, but it added the discussions are fluid and that it remained unclear whether a final deal could be brokered.
