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What is CIT Group Inc. (NYSE CIT)? and why is it near bankruptcy? CIT is a century old lender to about 760 manufacturing clients and 300,000 retailers. CIT also owns a bank holding company which received $2.3 billion dollars last year under the TALF program.

Now the firm is in financial trouble. A key sticking point is that the FDIC will not allow the lender into its bond guarantee program created last year to unfreeze debt markets. This according to a Bloomberg news release.

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Will CIT go bankrupt? originally appeared on BloggingStocks on Mon, 13 Jul 2009 18:00:00 EST. Please see our terms for use of feeds.

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