Gordian Group's Peter Kaufman says its unclear if regulators will approve CIT Group Inc.'s (NYSE:CIT) prepackaged bankruptcy reorganization plan, which includes transferring its core businesses to CIT bank. Without the FDIC approval of the transfers, CIT could fall into liquidation, as CIT president and chief operating officer Alex Mason acknowledged to Michael Rudnick in The Deal Magazine's Back to plain vanilla?. Kaufman says if CIT does get the approval to transfer those businesses in Chapter 11 it may still be damaged goods. See the video below or download it at iTunes.- Maria Woehr
