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CIT Group on Brink Of Collapse -- Again

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[I]f bondholders reject the plan, sources said, the company could be forced to file what would be the fifth-largest bankruptcy in U.S. history, behind those of Lehman Brothers, Washington Mutual, WorldCom and General Motors. In this case, much of the taxpayer investment in CIT would be lost.It remained unclear if the CIT debt exchange plan would receive enough support. Bondholders often have competing interests....
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Margaret Bassett passed away August 21, 2011. She was a treasured member of the Opednews.com editorial team for four years.

Margaret Bassett--OEN editor--is an 89-year old, currently living in senior housing, with a lifelong interest in political philosophy. Bachelors from State University of Iowa (1944) and Masters from Roosevelt University (1975) help to unravel important requirements for modern communication. Early introduction to computer science (1966) trumps them. It's payback time. She's been "entitled" so long she hopes to find some good coming off the keyboard into the lives of those who come after her.

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