FOXNEWS Americas News HQ November 1, 2009
24/7. we are definitely watching out for you ♪ >> gregg: i'm gregg jarrett. we just received word that the huge commercial lender cit based here in manhattan, new york has filed for chapter 11 pre-packaged reorganization. they are deeply in debt and they have been negotiating over the last several days and weeks with goldman sachs and carl can to provide financing. bond voters were voting close to midnight to strike a deal with cit. in effect the pre-packaged bankruptcy would allow them to get 70 cents on the dollar of the debt they are owed. cit, this is not unexpected has moved t...
Source: archive.org