The original content of Democracy Now! Headlines appears under the Creative
Commons BY-NC-ND 3.0 License (United States). For more, including their other
shows and media, visit www.democracynow.org.
November 2, 2009

CIT Group Declares Bankruptcy
-----------------------------



In one of the largest bankruptcies in US corporate history, CIT Group
has filed for Chapter 11 protection. CIT’s bankruptcy is a potential
blow to the thousands of small and mid-sized businesses that rely on the
company for loans to keep their operations afloat. The US government is
likely to lose the $2.3 billion it sunk into CIT last year to prop up
the ailing company.



.