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CIT Files for Bankruptcy; US Is Unlikely to Recoup $2.3 Billion Bailout

Submitted by jonkirk on Mon, 11/02/2009 - 11:12
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"Nov. 2 (Bloomberg) -- CIT Group Inc., the 101-year-old commercial lender that saw its funding dry up in the credit crunch, filed for bankruptcy in an effort to cut $10 billion in debt following a failed debt exchange and U.S. taxpayer bailout. "

http://www.bloomberg.com/apps/news?pid=20601103&sid=aGugBgO....

I'm just curious, where did the $2,300,000,000.00 go?

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