International Business News - Bailout http://www.ibtimes.com All articles are copyrighted by IBTimes.com 400 100 http://www.ibtimes.com/ http://www.ibtimes.com/images/top_logo_ibt2_3.gif CIT Group Inc secured a $3 billion loan facility from its bondholders on Monday and said it plans a comprehensive restructuring of its liabilities, but gave few details. http://www.ibtimes.com/data/articleimgs/217069-a-woman-walks-past-the-cit-offices.jpg http://www.ibtimes.com/articles/20090720/cit-getsbillion-lifeline-from-bondholders.htm http://www.ibtimes.com/articles/20090720/cit-getsbillion-lifeline-from-bondholders.htm Mon, 20 Jul 2009 23:40:01 EDT U.S. stocks jumped on Monday, driving the S&P 500 to an eight-month closing high, after CIT Group Inc was thrown a lifeline to avoid bankruptcy, and investors bet corporate America would log another strong set of earnings this week. http://www.ibtimes.com/articles/20090720/wall-st-leaps-on-cit-aid-texas-instruments-off-late.htm Mon, 20 Jul 2009 18:16:01 EDT CIT Group Inc has reached a tentative deal with a bondholder group for $3 billion in rescue financing, which the lender hopes will help it avoid bankruptcy, sources close to the situation said on Sunday. http://www.ibtimes.com/data/articleimgs/217015-cit.jpg http://www.ibtimes.com/articles/20090719/cit-reaches-tentativebln-deal-with-bondholders.htm http://www.ibtimes.com/articles/20090719/cit-reaches-tentativebln-deal-with-bondholders.htm Sun, 19 Jul 2009 22:16:01 EDT CIT Group, the U.S. lender caught in a liquidity crunch which may lead to a bankruptcy filing as soon as Monday, had planned for government assistance as a first and second resort, a senior Obama administration official said, according the Wall Street Journal. http://www.ibtimes.com/articles/20090718/citplanand-planwere-seek-government-help-obama-official.htm Sat, 18 Jul 2009 12:54:53 EDT CIT Group Inc is in talks with JPMorgan Chase & Co and Goldman Sachs Group Inc about short-term financing as it looks for ways to avoid bankruptcy, a source close to the company said on Friday, sending the lender's shares and bonds up. http://www.ibtimes.com/data/articleimgs/216967-.jpg http://www.ibtimes.com/articles/20090717/cit-in-talks-with-jpmorgan-goldman-source.htm http://www.ibtimes.com/articles/20090717/cit-in-talks-with-jpmorgan-goldman-source.htm Fri, 17 Jul 2009 18:48:14 EDT Many of CIT Group Inc's businesses, including trade and transportation finance, could be of interest to potential buyers as the commercial lender stares at the possibility of bankruptcy. http://www.ibtimes.com/data/articleimgs/216902-cit-assets-attractive-but-only-to-bargain-hunters.jpg http://www.ibtimes.com/articles/20090716/cit-assets-attractive-but-only-bargain-hunters.htm http://www.ibtimes.com/articles/20090716/cit-assets-attractive-but-only-bargain-hunters.htm Thu, 16 Jul 2009 19:50:43 EDT CIT Group Inc was in discussions on Thursday with potential lenders to secure financing, after the collapse of rescue talks with the government left the company on the brink of bankruptcy. http://www.ibtimes.com/data/articleimgs/216933-cit-rushes-to-secure-lending-bankruptcy-feared.jpg http://www.ibtimes.com/articles/20090717/cit-rushes-to-secure-lending-bankruptcy-feared.htm http://www.ibtimes.com/articles/20090717/cit-rushes-to-secure-lending-bankruptcy-feared.htm Fri, 17 Jul 2009 10:08:01 EDT CIT Group Inc, a lender to small and mid-sized businesses, said late Wednesday talks with government agencies have ended and “there is no appreciable likelihood of additional government support being provided over the near term.” http://www.ibtimes.com/articles/20090715/cit-says-bailout-unlikely.htm Wed, 15 Jul 2009 22:47:09 EDT Financial difficulties at commercial lender CIT Group Inc could hurt small businesses that depend on credit to fund their growth and operations, though many of CIT's units serve an important function and are unlikely to disappear if the company restructures in bankruptcy court. http://www.ibtimes.com/articles/20090713/cit-troubles-could-hurt-widespread-impact-uncertain.htm Mon, 13 Jul 2009 08:34:52 EDT Treasury Secretary Timothy Geithner said Sunday that banks needing ‘exceptional' U.S. aid may be forced to make management and board changes. http://www.ibtimes.com/articles/20090405/geithner-remarks-on-bailout.htm Sun, 05 Apr 2009 23:00:46 EDT A pair professors expressed concern that it would not be proper for banks who have received government bailout funds to buy the same type of toxic assets which have caused them problems previously as part of a government public-private investment program. http://www.ibtimes.com/articles/20090403/us-report1.htm Fri, 03 Apr 2009 23:52:36 EDT U.S. Treasury Secretary Timothy Geithner -- noting on Sunday that the Treasury had $135 billion in uncommitted bank bailout funds -- said on Sunday that if the agency needed additional money, he would make a strong case to Congress about it. http://www.ibtimes.com/data/articleimgs/211356-treasury-sec-timothy-geithner.jpg http://www.ibtimes.com/articles/20090329/geithner-on-bailout-money-if-we-need-more-we-rsquo-ll-ask.htm http://www.ibtimes.com/articles/20090329/geithner-on-bailout-money-if-we-need-more-we-rsquo-ll-ask.htm Sun, 29 Mar 2009 10:33:22 EDT The Obama administration, through the Treasury Department, unveiled a renamed three part "Financial Stability Plan" to allow currently immobilized parts of the U.S financial industry to allow the flow of money to begin with support from the Federal government. http://www.ibtimes.com/data/articleimgs/209374-treasury-secretary-timothy-geithner.jpg http://www.ibtimes.com/articles/20090210/treasury-unveils-financial-stability-plan.htm http://www.ibtimes.com/articles/20090210/treasury-unveils-financial-stability-plan.htm Tue, 10 Feb 2009 11:39:31 EST The Obama administration has delayed the announcement for a plan to overhaul the financial system until Tuesday as officials work on passing an important economic stimulus package in the Senate and with some questions remaining about specific aspects of the Treasury's bailout plan. http://www.ibtimes.com/data/articleimgs/209348-treasury-secretary-timothy-geithner-president-barack-obama.jpg http://www.ibtimes.com/articles/20090209/treasury-delays-bailout-plan.htm http://www.ibtimes.com/articles/20090209/treasury-delays-bailout-plan.htm Mon, 09 Feb 2009 07:00:01 EST President Barack Obama will announce later Wednesday a pay limit of $500,000 a year for top executives from companies that receive federal aid funds, according to several media reports. http://www.ibtimes.com/articles/20090204/obama-salaries-restrictions-tarp-executives.htm Wed, 04 Feb 2009 13:24:21 EST President Barack Obama called Wall Street corporate decisions to pay employees more than $18 billion in bonuses last year 'shameful' and 'the height of irresponsibility' even as the firms receive billions of dollars in bailout money to move beyond the current economic crisis. http://www.ibtimes.com/data/articleimgs/209179-president-barack-obama-treasury-secretary-timothy-geithner.jpg http://www.ibtimes.com/articles/20090129/obama-calls-billion-wall-bonuses-shameful.htm http://www.ibtimes.com/articles/20090129/obama-calls-billion-wall-bonuses-shameful.htm Thu, 29 Jan 2009 19:11:08 EST The French government may help the its troubled auto industry in exchange for raising its ownership in the car makers, industry minister Luc Chatel said. http://www.ibtimes.com/articles/20090119/france-may-aid-automakers-with-billions-protect-jobs.htm Mon, 19 Jan 2009 12:35:03 EST