In a rare Sunday move when the financial markets are closed, Commercial Investment Trust Group, files for Chapter 11 bankruptcy protection (re-organization). The commercial bank only has 16,000,000,000 “dollars” in capital against a total debt of 64,9000,000,000 “dollars.”
[added 1/16/2022] Thanks to Freedom’s Phoenix for this entry.
Subsequent Events:
References:
CIT files for Chapter 11 bankruptcy protection – Yahoo! News
news.yahoo.com/s/ap/20091101/ap_on_bi_ge/us_cit_group_bankruptcy;_ylt=Am6/X0YYvSIGiBi1xbtfBZSis0NUE;_ylu=X3oDMTM1dDlnYmF1BGFzc2V0A2FwLzIwMDkxMTAxL3VzX2NpdF9ncm91cF9iYW5rcnVwdGN5BGNwb3MDMgRwb3MDN
Current U.s. National Debt:
