TheNewsRoom | Goldman and CIT May Reach Deal

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Goldman and CIT May Reach Deal

October 23, 2009

According to the Wall Street Journal Goldman Sachs (GS) and CIT Group (CIT) may have arrived at a deal regarding an ongoing, disputed $3 billion loan. Reportedly Goldman would lower the amount owed by $1 billion and if CIT ends up in bankruptcy, they would pay Goldman $300 million.