The Government stated they would not back CIT Group (CIT) but technically they are. CIT is in talks with JP Morgan (JPM), and Goldman Sachs (GS) seeking short term financing for $2 to $3 Billion to avoid bankruptcy. If JP Morgan and Goldman Sachs back CIT Group, and the U.S. Government is backing JP Morgan and Goldman Sachs… Then isn’t the U.S. Government technically backing CIT Group?
