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RSSCIT files for bankruptcy
It has been teetering on the edge for a few months now, but yesterday CIT made it official when it filed for bankruptcy protection. The decision to file for bankruptcy was approved by the creditors of the company along with the board of directors. At the time of the filing CIT had assets of $71 billion and liabilities of $65 billion. This filing is one of the largest. The only ones that ... —
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