Joun Paulson is in no talks whatsoever to orchestrate a merger between CIT and IndyMac, a source close to the situation tells us.
The NY Post reported this morning that the hedge fund manager was “tossing about a plan to save troubled lender CIT Group through a merger with IndyMac Federal Bank, according to people familiar with the situation.”
The source also said that as Indymac is a failed institution, it is controlled by the FDIC and as such, no talks can be going on without its approval. “It’s pure nonsense.”
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