Just when it seemed CIT was hopeless falling into the same bankruptcy pit as other companies, they are saved… for now. CIT, a financial business offering loans to small businesses are saved by  bondholders who agreed to a three billion dollar deal. This allows CIT to buy sometime to stablize. This in return has bumped the CIT’s stock up, making it gain 81% today. However, this is only a short beneficial gain.  Sure they have stability for now, but with small-businesses defaulting and a continued crippling economy it only holds off the bankruptcy for now. Also, other small businesses are seeking other banks for loans as they see CIT breakdown. Read more about it here.