Largest Factoring Company broke!

Well, we are not going to get our TARP billions back from CIT Group, a large business factoring money house--they are Chapter 11. Also stockholders will get nothing for stock owned.

Not only are the many businesses who sold their receivables to CIT broke, so is the buyer of them.

Is there no end to the credit mess?
Wonder how many companies in Georgia were involved with this outfit?

If you have ever sent your payment to a lock box number instead of the address of the company you owe, then they have sold your debt very likely.

It can't be touched by the company you owe.

Remember Gore's "Lock box?"

How can so many thieves and crooks accumulate in so few years?

The big thief, Madoff, said "idiots" were sent to check him out and never found him out! Either they were idiots, or had been told not to look at actual stock transactions which is all it would have taken!
Makes one wonder.

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