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| Re: Millennium debt deepens (161794) | |||
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Re: Millennium debt deepens |
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Posted by brightonr68 on Wed Aug 26 16:19:09 2009, in response to Re: Millennium debt deepens, posted by kcram3500 on Tue Aug 25 22:39:09 2009. "Millennium would use a combination of factoring and contract financing in order to do this."New factoring accounts are hard to get. CIT one of the largest in the space is in financial trouble. IT was unable to sell corporate paper that finances it's factoring business. If the Gov would have stepped in BEFORE the markets locked up after the failure of lehman brothers MANY of the other companies who had no connection to the mortgage market would have not been affected. CIT's core business was not loosing money |
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