CIT TARP Wipeout is Official

Miscellaneous Current Events
1

Here’s a surprise!

" The U.S. Treasury has officially lost its entire $2.33 billion TARP investment in CIT Group(CIT Quote), according to a company filing with the Securities and Exchange Commission after Monday’s closing bell."

I’m sure everyone here is in disbelief that the taxpayers will never see any money back on this “investment” by the Treasury!!

2

Even when they do, there is no reason to believe that it is nothing more then accounting profits that result from the Fed’s own investments in their toxic assets.