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$4.8 trillion – Interest on U.S. debt

Editor and Publisher — Fri, 20 Nov 2009 18:30:38 +0000

Blog Editor’ Note: That’s nearly 5 million million dollars and nearly half the current Federal deficit, which continues to rise at an unprecedented rate. But don’t worry, analysts can still find individual pieces of data that sound optimistic.

Unless lawmakers make big changes, the interest Americans will have to pay to keep the country running over the next decade will reach unheard of levels.

By Jeanne Sahadi

(CNN Money) Here’s a new way to think about the U.S. government’s epic borrowing: More than half of the $9 trillion in debt that Uncle Sam ... Continue Reading

Carl Icahn lends CIT a hand

Editor and Publisher — Fri, 30 Oct 2009 20:08:56 +0000

The embattled small business lender gets a $1 billion credit line from a onetime foe as it tries to push through a restructuring plan.

By David Ellis

(CNNMoney.com) Small business lender CIT Group got a hand Friday from a most unlikely source: a billionaire activist investor who has spent the past month trying to foil the company’s restructuring plans.

New York-based CIT (CIT, Fortune 500) said Friday it reached an agreement under which Carl Icahn will support the firm’s restructuring. Icahn’s hedge fund ... Continue Reading