Just announed, CIT files bankruptcy. Where it affects the taxpayer is in the bailout monies given to CIT by the Democrats and Obama. That money was used to buy stock in CIT with the idea the government would make a profit when they sold the stock after CIT recovered. Guess what. The bankruptcy makes the stock worthless. So the bailout money is gone, no hope of recovering it at all. CIT does not have to pay it back at all. Good work you dorks in Washington DC.