Little guys to lose if CIT fails
China Daily | Updated: 2009-07-16 08:06
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A man exits a Dunkin Donuts in South Orange, New Jersey. Many small businesses, including franchisees of chains such as Dunkin Donuts, would be hard hit by a collapse of CIT Group, which mainly lends to small- and medium-sized firms. Bloomberg News |
WASHINGTON: With banks repaying bailout money, credit markets beginning to flow and Goldman Sachs posting stunning profits, the financial sector would appear to be stabilizing. But CIT Group Inc, one of the largest lenders to small- and mid-sized businesses in the US, teeters on the brink of collapse.
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