From Cleveland.com;
"CIT is in talks with JPMorgan Chase & Co., Goldman Sachs and Morgan Stanley about receiving short-term financing that may help it avoid filing for Chapter 11 protection, a person familiar with the talks told The Associated Press. The person spoke on condition of anonymity because the talks are confidential.
CIT has been scrambling to raise $2 billion to $4 billion after the federal government refused to bail out the company, one of the nation's largest lenders to small and midsize businesses."




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