NEW YORK— CIT Group's second-quarter profit slipped as net finance margins fell and the bank incurred higher costs. The commercial lender earned $115.3 million, or 66 cents per share, for the period ended June 30. The average estimate of eight analysts surveyed by Zacks Investment Research was for slightly higher earnings of 68 cents per share.
John Thain, CIT Group chairman and CEO, reacts to President Obama's address. "A default would cause a tremendous amount of disruption in the market place" he says.
John Thain, chairman & CEO of the CIT Group, reacts to the Cyprus bailout, whether CIT is up for sale and on his company's successful food drive.