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CIT Save Will Send the Shorts Scrambling

By Jim Cramer

 About this article:
 Let's say the principal worry when we left on Friday was that a million companies, many of them smaller retailers, would lose their credit over the weekend. Whatever was going to happen with CIT , regardless of whether you hated or liked Jeff Peek or believed they had totally blown their mandate -- I think they had -- could only be negative for the market. Your only hope on Friday was a government rescue and all of the attendant scrutiny and derision that would accompany such a bailout. Today we come in and we discover that not only is CIT whole, but the government didn't need to help. CIT is like a giant jobs program that the government doesn't have to pay for, and I don't care if the banks run out of money quickly because of it, at least there won't be a mad scramble...

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