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US Treasury: High Threshold Exists For Exceptional Govt Aid
11 minutes ago - Dow Jones Newswires
By Meena Thiruvengadam

Of DOW JONES NEWSWIRES

WASHINGTON (DOW JONES)--The U.S. Treasury said Wednesday there's "a very high threshold for exceptional government assistance to individual companies."

It's comment came just hours after CIT Group Inc. (CIT) said that little hope exists for it to secure further government aid.

The Treasury declined to confirm whether talks between government officials and the lender have broken down.

The struggling commercial lender said earlier Wednesday that discussions with government agencies have ended and its board is evaluating alternatives for the company. CIT is facing a liquidity crisis with corporate customers having drawn down hundreds of millions of dollars from their credit lines in recent days.

-By Meena Thiruvengadam, Dow Jones Newswires; 202-862-9255; [e-mail]

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