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To: RockyBalboa who wrote (211354)	7/20/2009 5:03:12 PM
From: Galirayo	Read Replies (1) \| Respond to of 306849

>> Well... CIT still alive, can you believe it. << No .. but Now I can believe that they will take a Big Bite out of the Growing TARP Fruit.

To: RockyBalboa who wrote (211354)	7/20/2009 5:09:56 PM
From: Smiling Bob	Read Replies (1) \| Respond to of 306849

Maybe I'm wrong and these boneheads are right, but wasn't the market up a shitload last week amidst the cloud of "worries" surrounding CIT? --- Stocks extend rally as worries over CIT ease Investors add to gains as fears ease about fate of lender CIT; Dow erases loss for the year * By Sara Lepro and Tim Paradis, AP Business Writers * On Monday July 20, 2009, 4:40 pm EDT NEW YORK (AP) -- Signs of strength in several corners of the economy are helping extend the stock market's rally. --- Arranged a "private sector" bailout? DJ White House's Summers:'We've Come A Long Way In Economy'-Bloomberg . DOW JONES NEWSWIRES Lawrence Summers, chief economic adviser to President Barack Obama, told Bloomberg TV Monday that the country has "come a long way" on the economy. "You had an economy in free fall at the beginning of this year," Summers said in the live interview. "You had all kinds of people talking about the Great Depression. "We're in a different place today. We certainly don't have the growth we'd like and it will take time before we do. But you no longer have that sense of a collapsing economy." Summers warned that correcting fundamental problems will take longer. But he said most economists expect growth, as measured by gross domestic product, to return in the second half of 2009. He said household disposable income has already increased in 2009, which he credited to unemployment insurance measures and tax measures in the Obama recovery package. Summers also said the administration favors a private-sector solution to avert a collapse of CIT Group Inc. (CIT). CIT reached agreement with its bondholders over the weekend for a $3 billion rescue. "We're hopeful that the private-sector solution that appears to be coming together will preserve for the most part their lending relationships," Summers said. Summers also asserted that, amid concerns over the cost, Obama's health-care reform will be financed on a "balanced-budget basis" over the next 10 years. Web site: bloomberg.com -Dow Jones Newswires, 212-416-2900 Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: djnewsplus.com. You can use this link on the day this article is published and the following day.