Hedge Fund Guru Paulson Considering Plan to Save CIT Group (CIT)

According to reports from the New York Post, hedge-fund powerhouse John Paulson is considering a plan to save troubled lender CIT Group (NYSE: CIT) through a merger with the leftovers of failed IndyMac Federal Bank.

Paulson is part of a group that bought the failed IndyMac from the FDIC earlier this year and also holds debt in CIT Group, according to the reports.

From the report, it sounds like there are still many moving parts and a deal is far from certain.

Link to New York Post Article

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