Goldman to Net $1Bn if CIT Files for Bankruptcy Protection

by Benjamin Domenech on 10:24 pm October 4, 2009

“Goldman Sachs stands to receive a payment of $1bn – while US taxpayers would lose $2.3bn – if embattled commercial lender CIT files for Chapter 11 bankruptcy protection,” thanks to the structure of $3bn rescue finance package that Goldman extended to CIT “about five months before the Treasury bought $2.3bn in CIT preferred shares.”

Previous post:

Next post: