Report: CIT Gets $3 Billion

RESCUES

Updated Apr. 25, 2017 2:37PM EDT / Published Jul. 19, 2009 6:43PM EDT

CIT Group, a commercial lender that finances about one million businesses, has received $3 billion in rescue financing from a bondholder group in a tentative deal, reports Reuters. The bondholder group will provide financing for two and half years, following the U.S. government's rejection of a second bailout for CIT. The deal will most likely be announced Monday and is part of a larger restructuring plan to save the company, which has suffered big losses from home mortgages and student loans. CIT has about $76 billion in assets and, if it folded, would be the largest bank failure since Washington Mutual in September.

Read it at Reuters

R.F.K. Jr.’s Old Environmental Pals Tell Him to Get Lost

“His actions are a betrayal to our environment,” the candidate’s former mentor said of him.

Iconic Hotel From ‘The Shining’ Goes Up in Flames

Crews responded late Thursday night to an attic fire at the famous Oregon lodge.

John Cleese Cancels His Own Cancel Culture Show

The “Monty Python” star has stalled the show for three years.

Susan Sarandon Joins Protesters at Columbia University

“Especially in a place of education, and supposedly higher thought, to be attacked with racism and intolerance is not acceptable,” the actress said.

New Deets Surface on Barbara Walters and Diane Sawyer’s Beef

Despite the two being bitter rivals, Sawyer also conceded, “We spent a lot of time laughing and forging a real friendship.”

Stock Slips After Netflix Stops Sharing Subscriber Numbers

Despite a strong first quarter, investors were seemingly rattled by the company’s decision to stop reporting their favorite metric.

A D.C. ‘Skinny’ Home Is Listed for $600K—It’s 6 Feet Wide

A change in zoning laws forced the owners to put their building plans on a serious diet.

Ethics Panel Wants to Know if Gaetz Got High at Parties: ABC

The House committee has reportedly obtained a woman’s statement claiming the Republican attended an event where drugs were present.

Report: CIT Gets $3 Billion