The Obama administration has refused to provide government backing for outstanding debt or other emergency aid to CIT, a New York-based bank that finances nearly one million small and midsize companies in the US.
Tag: bank failures
Jul 19 2009
Jan 20 2009
Stock exchanges in Britain and the USA have been on the slide over the past few days. The reason is not hard to seek. The FTSE has been spooked by bank shares collapsing. Barclays, for instance, saw 25% of its share price shaved off in one hour last Friday (16.01.09). This was the day after the bank announced 2,100 job losses.