Gordian Group LLC's Peter Kaufman says it's unclear if regulators will approve CIT Group Inc.'s (NYSE:CIT) prepackaged bankruptcy reorganization plan, which includes transferring its core businesses to CIT Bank. Without the FDIC's approval of the transfers, CIT could fall into liquidation, as CIT
president and chief operating officer Alex Mason acknowledged to Michael Rudnick in The Deal magazine's
Back to plain vanilla?. Kaufman says if CIT does get the approval to transfer those businesses in Chapter 11, it may still be damaged goods. See the video below or
download it at iTunes. - Maria Woehr
