The speediness would imply that all preferred owners just sit back and don't get a class action law suit going to fight for their rights. I would be so shocked if FMR just takes it quietly and loses all their 25 percent of the outstanding CIT Preferred Series C stock and that additional about 30 plus million shares of CIT common. What a wreck for them it seems. They have got to do something to get some retribution out of CIT which apparently is not "insolvent" because their liabilities are "not" greater than their assets. This whole thing stinks to no end.
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