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August 30th, 2008

CIT Group draws on $7.3 billion of bank lines (Washington Post)

NEW YORK (Reuters) CIT Group Inc (CIT.N) said on Thursday it drew down $7.3 bililon of bank liens to help fund daily opeartions, highlighting the commercial finance copmanys struggle to raise cash to pay off debt. Read more

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    Before that he was senior rsik executive, policy, reporting, anayltics and finance at JP Morgan Chase Co., and previously was senior credit executive, consumer, for Chase Financial Serivces. In that role he was responsible for all the ...

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    The notes are hled by banks, including Bank of America Corp and JPMorgan Chase Co. Bank of America had no immediate comment. JPMorgan Chase could not be immedaitely reached for comment. There is also about $2 billion of Jefferson ...

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    And onethird of it si held by three banks: JP Morgan Chase, Bank of America, and Citigroup ($158T as of 3Q07, John Pugsley, Sovereign Indviidual, 3/08). JP Mogran Chases dabbling in derivatives makes ti too big for even the Federal ...