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FBN’s Charlie Gasparino on CIT CEO John Thain’s efforts to refute his FOX Business reports.
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We have breaking news right now John Thain taking our own Charlie -- talking and about -- -- plans for CI AT and you know Charlie.
I think at this is now I -- You're coming -- because you you've been reporting all day.
You about it shot and all yesterday right about John -- out their shopping CIT and I understand another network which shall remain nameless -- -- that way is refuting your story he was.
Trying to refute -- on I'm brand X and you know would it doesn't when John thing actually was a major player on Wall Street CAD is not a major player.
Ice it takes some -- -- three refuted wild stories hasn't -- when he was -- the -- stock exchange right Merrill which he tried to refute all sorts of stuff like.
I would say they need to raise capital at Merrill right.
He would say they don't and then they would raise capital I would say that you know he's on the ropes with Ken Lewis he's not gonna replace -- -- -- BankAmerica.
Bought Merrill Lynch.
And he got replaced as an out of -- jumping.
Knew he was gonna replace it because he's so I don't -- saw me he saw me he saw me on TV announce it now so we as a history of this.
And today I think he was pretty squirrelly.
What is it is that the player once was but I just -- -- a couple things yet he first said that he misled the reporter by suggesting that we infection we call John -- up.
Several times yesterday and today.
He was -- for re trying to refute our story yesterday which says he's been shopping -- interest in selling it well guess what today reported that banks can't buy it.
One of the reasons why they can't buy it is because.
Of some of the regulatory hurdles that they -- US banks and he wants to sell to US banks so we can may be running US bank which -- -- Dream to be that of a US bank even though most people on Wall Street is guts so we try to suggest.
That we didn't check that we did and he's refuting -- if you yesterday's story -- today we clearly said.
He can't sell it.
Listen John Thain is clearly annoyed that he's -- a second rate player.
And he can't sell the second rate player and emerge at a major player and the other thing is -- -- He tried to -- downplayed the rehab of his office back in 2008.
Remember in the toilet that is they're they're 35000 -- -- look we're not sure you try to downplay Merrill Lynch's financial crisis.
And he had no idea who's going to be fired until I told IRA here Charlie Gasparino fighting back thank you.
