CIT files for bankruptcy

CIT Group Inc., a leading funder of small and medium-sized businesses, filed bankruptcy Sunday. CNNMoney.com reports it's the fifth largest bankruptcy in U.S. history.

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For moreinformation, please visit , Inc. The fund, with a minimum investment of $500,000, will invest directly in RMKTimberland Group`s Global Timberland Fund, which normally requires minimums of$5 million or more. The new notes will not be registeredunder the Securities Act of 1933, as amended, and may not be offered orsold in the United States absent registration or an applicable exemptionfrom registration requirements.This press release contains forward-looking statements conveyingmanagement's expectations as to the future based on current plans,estimates and projections. Besides Lee, federal prosecutors are taking a close look atseveral other former SAC traders and analysts to see if theymay have violated any securities laws while working at theStamford, Connecticut-based fund, said people familiar with theinsider trading probe. * While demand for reinsurance appears to be increasing, cession rates havedeclined over the past several years, and reinsurers are more selective in therisks they choose to underwrite.Access a copy of this special report.

NEW YORK, Aug. With the rebound of Hong Kong stockmarket, the market value of our investments in listed securities haveappreciated in tandem. When economic stormshit, it's the clear-minded and action-oriented leader that ultimately guidestheir business to success. The entire property has been flown with the airborneVTEM system and it appears that a number of the high-grade samples occurin close proximity to structural folds."Being able to review the VTEM data beforehand and pinpoint target areasallows us a major advantage not available to previous operators, as alarge part of the property is covered by overburden. These items were partly offset by increasedwritedowns on securities and lower retail brokerage fees.Provision for credit lossesThe provision for credit losses was $554 million this quarter, comprisedof $466 million in specific provisions, an increase of $100 million in thegeneral allowance, and a $12 million reduction in the automotive sectoralallowance established last quarter, which was reclassified to specificprovisions relating to that sector. "Investors are really upbeat about recent comments aboutthe economic recovery and the end of the financial crisis,"said Jaime Ascencio, an economist at Actinver brokerage inQueretaro, Mexico.