CIT Files for Bankruptcy along with Capmark

paulfalkowski — Fri, 30 Oct 2009 23:56:46 +0000

Well here we go. As the Government and Media talk about being out of the recession and looking at pulling back QE (quantitative Easing or printing money to fill the losses) and a GDP of 3.5% for last quarter (which is stimulus and Cash for Clunkers as well as layoffs that are calculated into that GDP number) The Economy is headed back into another down turn and collapse. The failure of CIT Group & Capmark is the beginning of the unwinding of Commercial real estate. Follow that with Alt A and Option Arm Mortgage foreclosures and we have a colossal mess that will be larger than last years SubPrime.

Head for safety with your investments, Im moving to Commodities and Metals.

Paul Falkowski's Blog

CIT Files for Bankruptcy along with Capmark