CITBQ (CIT Grp Pref A) He's Back! But he has brought gifts!

[sree]

I'm in on the class action lawsuit, someone who knows something about anything go get one started and tell me where to sign!

lol count me in.

[broken196]

We have all been tempered by this play. I have personally learned a lot of what to do and what not to do and the excellent amount of research done by MSB members is astounding!

Thank you all for the ride.

[butcher]

So CIT essentially screwed the government.........AWESOME! They should love that! Or maybe they will just sweep it under the rug like they have so far and tout about how much of a success TARP was......... RAOFLMFAO

[sree]

So the dream of buying more CPRK after this play turns out is not possible ... this play had ripple effects of not allowing us to buy more CPRK

[tman17m]

well...ive learned to not invest in things that i dont fully understand. atleast i have some losses to offset all of those CPRK gains later this year....yeah.....gains....

[ShaggsTheStudd]

So the dream of buying more CPRK after this play turns out is not possible ... this play had ripple effects of not allowing us to buy more CPRK

I was totally hoping to sell into that.

[Dog]

100000 sold @ 4:55 $31.23 Seems like someone likes we and the American ppl are extinguished.

Reading the news again after the initial disappointment I am a bit upset. This cash they have in their holding company. IDK seems like everyone just bent-over and gave it to the lenders without a fight. Besides us here (although I never did write a letter) You would have thought the Treasury would have wrote one.

[ShaggsTheStudd]

100000 sold @ 4:55 $31.23 Seems like someone likes we and the American ppl are extinguished.

Reading the news again after the initial disappointment I am a bit upset. This cash they have in their holding company. IDK seems like everyone just bent-over and gave it to the lenders without a fight. Besides us here (although I never did write a letter) You would have thought the Treasury would have wrote one.

I have a company who's stock you might be interested in: PCFK. Pitchfork Inc.

[Frank Drebin]

$250 lottery ticket.

[rawly]

They filed an 8-K on the calculation:

Calculation of Fair Market Value of Class 8 – 11 Securities
Contingent Value Rights Value Analysis

(Amounts in USD millions except per share data)




Measurement Date 2/8/2010 Class 8 Allowed Claims $1,042 Class 9 Allowed Claims 25,595 Class 10 Allowed Claims 320 Class 11 Allowed Claims 3,100 Total Class 8-11 Allowed Claims $30,057 Total Common Shares Outstanding 200,035,561 Share Price (10-Day Volume-Weighted Average) $31.46 New Common Interests Issued to Class 8-11 Allowed Claims 182,029,152 Market Value of Common Shares Issued to Class 8-11 Allowed Claims $5,727 Face Value of Series A Notes Issued to Class 8-11 Allowed Claims $21,040 Weighting 2013 Series A Notes Trading Value, cents on dollar (10-Day Average) 10% 92.1 2014 Series A Notes Trading Value, cents on dollar (10-Day Average) 15% 89.2 2015 Series A Notes Trading Value, cents on dollar (10-Day Average) 15% 87.5 2016 Series A Notes Trading Value, cents on dollar (10-Day Average) 25% 85.9 2017 Series A Notes Trading Value, cents on dollar (10-Day Average) 35% 85.2 Series A Notes Trading Value (Weighted Average) 100% 87.0 Aggregate Market Value of Series A Notes Issued to Class 8-11 Allowed Claims $18,308 Aggregate Recovery to Class 8-11 Allowed Claims $24,035 % Recovery 80.0% New Common Interests Issued to Senior CVRs 0 New Common Interests Issued to Junior CVRs 0 New Common Interests Issued to Preferred Stock CVRs 0

(Sorry formatting didn't post right look at the jpg!)

[Dog]

I have a company who's stock you might be interested in: PCFK. Pitchfork Inc.

LOL

I am looking at PAPA

Moving on ppl moving on

[ShaggsTheStudd]

Moving on ppl moving on

You only lose once you have moved on

Half a joke, half true.


Btw, anyone who wants to sell me their CVR's and all associated rights, etc, I might be willing to buy them from you for a few pennies

[Poor But Happy]

I like your persistence shag! Something is telling me that this is not over yet (although CIT and their bondholder friends think so). If the stock gets over $56, then class action time!

[fearles]

I am still in shock!

I knew that 0 was a very likely outcome but I can't believe they didn't throw us a bone. Give the gov something good to say like "Treasury recovers 1.3 Billion for CIT as part of TARP". I would actually be a little disappointed with $1/CVR but satisfied.

Here is the icing on the cake:
"Directors has authorized the voluntary prepayment of $750 million on its $7.5 billion first lien credit facility. The Company will prepay this high cost debt out of its available holding company cash position, which is in excess of $5 billion."

How is it that they have "no money" to pay us as legitimate debtors?

The gov probably doesn't care as really its not their money but maybe we can start a movement to make them care.

Bring on the Class Action Suit against the rich old suits with $160k toilets!

[ShaggsTheStudd]

I like your persistence shag!

It's all an F'n game to squash those who are willing to be squashed. Don't make it so easy for them, I say! It's worth my time to give them hell, I will die happier, dammit, and that is what is most important in life.

[griddle]

... Moving on ppl moving on

Good point Dog...
But not before thanking EVERYONE for their time and effort put into this thread. I appreciate all of the posts here. It was a great learning experience. I just wonder how many hours went into this thread.

If whatever doesn't kill you, makes you stronger... We should be able to move mountains.

I hate that we aren't all celebrating and raving about what we would buy with all of our profits, but I'll see you all in the next thread.

Thanks to ALL

[ShaggsTheStudd]

Man I need trants back. Between this second heartbreak of CIT, this Bear Blip, and my silly lack of attention to CTIC, it's been a tough little blip. I need that glimmer of hope, the hope that the stock market can be a place with GOOD stocks, full of bright potential.

That guy leaves and all the demons come out penny stocks, straight through purgatory (the BK stocks), and are inching through the S&P and the DOW.

[w00tw00t]

It's a shame this play turned out this way. It's a shame for those who lost money incl me. But it has been a lesson learned the hard way. Thanks all for the support and research done. Was a "fun" ride.

[sree]

I can still see CVRs in my account... will they vanish tonight? Did any ones account got updated

[csmrx7]

I can still see mine as well. May take a few days to process.