Charles Expects U.S. Taxpayer Losses on CIT Bankruptcy: Video

Nov. 2 (Bloomberg) -- Brian Charles, an analyst at RW Pressprich & Co., talks with Bloomberg's Ma...  More »

Nov. 2 (Bloomberg) -- Brian Charles, an analyst at RW Pressprich & Co., talks with Bloomberg's Matt Miller and Carol Massar about CIT Group Inc.'s bankruptcy filing. CIT failed to win a second government bailout in July or persuade bondholders to swap $30 billion in debt to prevent a bankruptcy filing this month. The New York-based lender posted more than $5 billion in losses in the last nine quarters. The filing is the fifth-largest U.S. bankruptcy by assets. (Source: Bloomberg)  « Less