Bloomberg reported that John Thain, chief executive officer of CIT Group, discussed the outlook for the company and the U.S. financial industry while speaking on Bloomberg Television's "Market Makers".
According to the Bloomberg report, Thain declined to say if a deal for CIT has been discussed, but said the logic of selling to a larger bank is “obvious" because banks are holding cash and are not able to generate attractive assets while companies like CIT are able to generate very high-yielding, attractive assets.
View entire Bloomberg story.