[dante]

Positive GDP growth. Bitches.

http://online.wsj.com/article/SB125681908931715735.html

Booya, I'm off to party like it's 1999.

 

[Upgr8r]

I'll party when I land a job. Been out of work for 2 months

 

[jimmydean]

Woohoo, I am going to buy a ton of crap I don't need! And just in time for the holidays, too.

 

[stoney]

1.7% of which is CFC, I want to see how it is broken out beyond that.

 

[narlus]

i decided to take a very conservative approach w/ my 401K stash for the time being...i pretty much made back most of my losses from the disastrous last year, but maybe i've been reading too many of Joker's posts...

 

[Serial Midget]

Sales of travel and leisure goods are up...

 

[stoney]

party's over, bottom is falling out.

 

[dante]

No it's not. It's just a flesh wound...

 

[stoney]

CIT just declared, which means their CDO's and CDS' will be maked to mkt. Look for all others holding the same debt to be forced to mark as well. Regionals are going to get slammed in the coming weeks.
Given how much small business debt is issued by CIT, we can expect credit to tighten again.

 

[dante]

From Bloomberg:

“Short term, it’s going to cause some difficulties for startups and smaller borrowers,” said Jean Everett, a partner at Hiscock & Barclay LLP focusing on financial institutions and lending. “CIT lent across so many sectors, it’s sort of difficult to predict how it’ll affect each sector.”

As a bike-related anecdote, CIT was the main lender for Iron Horse, and was left holding the bag when it imploded back in January.

 

[dan-o]

Given how much small business debt is issued by CIT, we can expect credit to tighten again.

As a small business owner I don't see how SB loans can tighten any more. It hasn't been a viable option for at least 12 months.