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Schaeffer's Early Edge: CIT Group Scores Much-Needed Banking Holding Status


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Published in Business and Finance on Tuesday, December 23rd 2008 at 10:18 GMT, Last Modified on 2008-12-23 10:18:37 by Market Wire   Print publication without navigation


CINCINNATI--([ BUSINESS WIRE ])--Late Monday, CIT Group Inc. (NYSE: CIT) received approval from the Federal Reserve to become a bank holding company. The Fed gave its authorization after CIT last week completed a debt-for-equity swap meant to raise $1.5 billion in regulatory capital.

To continue reading this article, click here: [ http://www.schaeffersresearch.com/commentary/content/the+early+edge+american+international+group+xl+capital+visa+and+prudential+financial/observations.aspx?click=home&ID=89997 ]


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