CIT Group, Inc. New Common (CIT)

[Joe Stocks]

I am buying my full allotment for a lotto play such as this...1% of my portfolio. I am about half way there buy CITpA.

Interesting that CITpC has a face value of $50, or twice the A's but selling for about a $1.15 with wide spreads. Only 270,000 shares have traded so far compared to the A' 2.5 mill. There are 10 mil C shares outstanding vs 14 mil on the A. That tells me someone is holding on to the C shares tight. I would not be surprised if they are not held by a few big names. The C's have a higher interest rate but that is really a moot point in bk when both will be cancelled.

I think the A's are a good bargain down here. I could be wrong though.