The Financial CIT under bankruptcy
3 Nov
The financial CIT, specialist in loans to students and small companies, declared bankruptcy this Sunday, this is the five th biggest bankruptcy in the history of the United States.
According The Wall Street Journal in the digital edition, the decision of the company of declare bankruptcy was adopted in an administration council celebrated yesterday. in New York.

With $ 71 billion of assets, CIT is the 5th major company to declare bankruptcy in the story of the united states, only surpassed by Lehman Brothers, Washington mutual, Worldcom and General Motors.
The bankruptcy of CIT, that was brought by the financial crisis due to it’s excessive exposure to student loans with high risk profile, supposes throw away $2,3bilion invested by the American Government to try to save the company.








