Thursday, July 16, 2009

CIT: Small enough to fail...says Dimon

http://tinyurl.com/kpjlmu

“We have exposure to CIT, secured and unsecured, but I’m telling you, the primary and direct effect on the P & L would be not material to us,” Jamie Dimon, CEO of JP Morgan/Chase, said on the call, in response to a question how a CIT failure might affect the company.

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