CIT group preparing for possible bankruptcy filing

[NorthernSanctuary]

Are they struggling for a bail-out because they are a commercial US lender as opposed to an investment bank?

How many bailouts do they want? I thought they got that before ?

But the bankruptcy is normally to give some time for the company to restructure their business so that it can come up with a new business plan to become profitable again without their creditors breaking the door down. The alternative is to close up shop.