CIT and Bankruptcy are now in a relationship! or... another one bits the dust!

News release:  CIT has filed for bankruptcy.  OK this might not be a surprise, but has anyone figured out what they did with the $$$$ Millions they got just a few months ago.  Did they too get bonuses all distributed and spent and then went into bankruptcy?

Now what about all the homeowners are caught up in this bank and where are all the mortgage loans going or are they already sold away.... and if yes - where did that money go?  What role did this bank play in the foreclosure/Mortgage crisis?  How many short sale requests did they deny?

These and many many more questions, we will probably never get the answers to.  And now all we can do is wonder which bank will be the next to fall?  And how long will it take it rise it head again?

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