Ex-Merrill Lynch Boss John Thain Is A CEO Again

Ex-Merrill Lynch Boss John Thain Is A CEO Again

After successfully redecorating his office, merging Merrill Lynch with Bank of America, and then getting fired — John Thain is once again a CEO. This time he’ll be heading up a recently-bankrupt commercial and consumer finance company, CIT. [More]

Government Helped CIT Limp Along Long Enough To Keep From Ruining Christmas

Government Helped CIT Limp Along Long Enough To Keep From Ruining Christmas

According to SpendMatters, one big reason the government burned through $2.3 billion in TARP funds for CIT even though it was buckling under debt was to try to avoid ruining everybody’s Christmas this year.