Warren Buffett On CIT's 13% Debt Deal: It's Hard For Them To Compete With Banks Getting 1% Money
Aug 4, 2009 at 3:45 PM
DailyBail in 1% money, CIT group, bailouts, banks, economic video, fdic, warren buffett
I'm no big fan of CIT Group and their shoddy loan portfolio. But Buffett's comments are helpful to understanding the inherent injustice of rewarding failed banks. Excellent commentary on the FDIC-backed debt that is so prevalent with the too-big-to-fail crowd. Hard not to make a bundle with 1% money.
