TARP money fails CIT rescue

In what could be one of the worst bankruptcy stories in US History, more sad news. This is the fifth largest bankruptcy in history. Today CIT is filing chapter 11 bankruptcy as TARP in rescue. People AIG was seen as a lender of last resort to many small business. Sadly, without loans many will not be able to buy inventory for the holiday season. As small businesses close, jobs lost will increase more.