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Archive Home > 2009 > July > 17 > With credit markets still frozen, CIT shops for investors

With credit markets still frozen, CIT shops for investors

By Julie Creswell and Michael J. de la Merced / The Bulletin
July 17, 2009

NEW YORK — The grim news from Washington arrived Wednesday afternoon at the Fifth Avenue offices of Jeffrey Peek: His teetering empire, the 101-year-old CIT Group, would get no bailout this time.

The decision by federal officials left Peek, a longtime Wall Street executive, struggling....

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