Giant Lender CIT Goes Bankrupt And 9 Banks Go Under

Ghosts were not only cruising sidewalks looking for candy this weekend, they had also infested some banking balance sheets.

All-Hallow’s is when the spirits come out, and come out they did; In the largest banking failure since WaMu, massive commercial lender CIT filed for bankruptcy. 9 US banks were also seized on Friday, bringing the number of banks that failed in 2009 to 115.

I know, I know, but you just need to be patient America. Exorcism is a process.

Nine U.S. banks seized in largest one-day haul [Reuters]
CIT Group Files Bankruptcy, Seeks to Reduce Debt [Bloomberg]
(Photo: peasap)