So who's turn is it now to deliver? Pana or you?

Think US government won't help it, because they did not take in deposit and what to loss is shareholders' money...

your gf

lol, happy father day, naz

Todays volume should touched 2billion wo....

Small bull is in making?...........

i think this is the latest news of the bankruptcy discussion

http://www.cnbc.com/id/31926789

They will file bankruptcy on friday as the government is not going to back them up....

okay, i am cashing out & leaving the table now

you guys happy contra-ing & win moarr!

pana a.k.a beetle proud owner, your PBBank touched RM10 already

I hope US gov don't help. Need to let some weak one dies off, else everyone also simply do business as gov is always there to save them if they fall into deep shit.

still waiting for friend to come fetch me >.< anywayz i got this part of the news about CIT

A bankruptcy filing also could wipe out the $2.3 billion that the Bush administration invested in the company in December as part of the government's $700 billion financial rescue program. CIT would become the first firm bailed out by the government to subsequently fail.

source : http://www.washingtonpost.com/wp-dyn/conte...d=moreheadlines

will the current market be affected by this?

CIT is a major lender to retailers and other U.S. businesses, with more than $60 billion in finance and leasing assets. Trading in CIT shares was halted on Wednesday afternoon, pending word on whether the government would come to its aid as it has with other larger institutions, including Citigroup ( C - news - people ), Bank of America ( BAC - news - people ), American International Group ( AIG - news - people ), Fannie Mae ( FNM - news - people ) and Freddie Mac ( FRE - news - people ).

Apparently CIT isn't in the too-big-to-fail camp. Lehman Brothers ( LEHMQ - news - people ) was also judged to fall into this category, but its bankruptcy filing in September precipitated a crisis in the financial markets.

In a brief statement, CIT said, "There is no appreciable likelihood of additional government support being provided over the near term. The Company’s Board of Directors and management, in consultation with its advisors, are evaluating alternatives."

That ends days of tense negotiations with the Treasury Department, which was considering extending an aid package, possibly involving the Federal Deposit Insurance Corp. Any aid might have included a temporary loan to help CIT strengthen its balance sheet so it could raise additional capital.
Read All Comments

But apparently the Treasury has drawn a line in the sand. To date this year, 53 deposit-taking banks have failed, and the FDIC is busy trying to prop up others. Another option for CIT would have been to be given access to the FDIC's program that guarantees debt issued by banks, but the FDIC is said to have been wary of the risk of allowing a weakened CIT into the fold.

Word of the need of a possible bailout no doubt weakened CIT further in recent days. Financial companies without direct access to Federal Reserve overnight emergency loans depend on funding in the short-term debt markets, and with markets already spooked, the ability to find new buyers of debt evaporates.

CIT's failure could imperil more than 1 million corporate borrowers, including many household name retailers like Dunkin' Donuts and Dillards Inc., in addition to the scores of small businesses considered crucial to the economic recovery.

In a statement to the Associated Press, a Treasury Department spokeswoman said Wednesday night "even during periods of financial stress, we believe that there is a very high threshold for exceptional government assistance to individual companies."

This post has been edited by SKY 1809: Jul 16 2009, 11:20 AM

would this send a panic message to the market like...omg the bail out is not working?

yeah, today's highest 10.30

i doubt it has room to grow anymore. me goyang kaki wait for report & dividends

China Q2 GDP up 7.9%

It is trading at 10.10 at the moment
Post a reply at PBBank thread yesterday, planning to buy -CH, but no reply, so scared to enter, haha

then 4,830 people will be added to the jobless number already...

You should have post it here!
I was talking about it when it was 0.015.

---

Added on July 16, 2009, 11:29 amLook at long term, not short term. If gov save everyone, then everyone will take higher risk.


This post has been edited by chyaw: Jul 16 2009, 11:29 AM

suddenly remind me of TA-WB … it came down to 0.03/0.04, then TA mothershare kena push push up, it suddenly turned alive and jumped 100% to 0.09, before it dies gradually.

You can't compare TA with PBB...
TA I see it as no fundamental while PBB consider as best bank in M'sia (in term of profitability).
TA-WB I also spotted it before it fly, but I didn't gamble it
Anyway, I'll sell off my PBB-CH by tomorrow before closing (just make the decision 1 sec ago)

This post has been edited by chyaw: Jul 16 2009, 11:33 AM

Posted it there already, so you reply there lor


Companies must be able to stand on its two feet, without expecting the government to bail them out should they fail.
+ bailout doesn't necessary mean the company will do things differently from getting into the situation again.

Look at what local companies who receive bailouts from government, they can never learn to stand on their own.