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View Diary: The Swan is still Black, and We're Still Screwed (212 comments)

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  •  Is CIT that big a deal? (4+ / 0-)

    I did a quickie on the CIT bankruptcy which I ended up deleting after thirty comments. Seems they are playing in the shallow end of the borrowers pool and there is some question as to whether they're bottom feeders ... or skilled risk managers. Either way, if they're at the margin and we're about to get slammed it makes them a bad risk. As I recall they're 1% of the commercial lending market. My statements are based on reading the articles found at The Automatic Earth.

    And you need another color for California - didn't I hear a 15%+ unemployment rate there? Or is that just the Inland Empire?

    "Not dead ... yet. Still have ... things to do." -Liet Kynes

    by Stranded Wind on Sat Jul 18, 2009 at 06:56:53 AM PDT

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