Archive for Wednesday, December 24, 2008
American Express OK’d for bailout funds
December 24, 2008
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New York — American Express Co. said Tuesday it received preliminary approval to obtain $3.39 billion in capital as part of the government’s $700 billion bank rescue program.
Primarily a credit card lender, American Express changed its structure to become a bank holding company last month. The change in status allows American Express to tap a wide array of government funding and lending programs, including the bank investment program.
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24 December 2008
at 7:59 a.m.
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just_another_bozo_on_this_bus (Anonymous) says…
“Primarily a credit card lender, American Express changed its structure to become a bank holding company last month.”OK, that settles it. After long consideration, I've restructured myself as a bank-holding company. When do I get my check? A couple $million will do me, as I'm much more efficient than those other greedy “holding companies.”
24 December 2008
at 8:07 a.m.
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TomShewmon (Tom Shewmon) says…
Must be nice to arrogantly jack John Q. Consumer for several decades, mismanage and rip it off the bejesus, then go crying and jack the federal government. I'm sure they'll be back for more from John Q. and Uncle Sam before we know it.
24 December 2008
at 8:45 a.m.
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JKBagby (Anonymous) says…
I am not paying one single cent more on my little credit card. They can subtract what I owe from the government funds they are about to scam.
24 December 2008
at 10:43 a.m.
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toe (Anonymous) says…
Only a fool would pay an annual fee for a charge card.
25 December 2008
at 7:37 p.m.
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BigPrune (Anonymous) says…
How does a credit card company that makes the total amount charged due and payable within 30 days need a bailout? I'm quite tired of these banks and now this credit card company getting bailed out. Where is my bailout? I'll let my children and children's children repay what I need. Can the American taxpayer sue to have these banks pay back the amount at 18%+ interest?
25 December 2008
at 8:26 p.m.
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nativedaughter (Anonymous) says…
BigPrune: Some of their cards, like the “blue”, do not require the balance to be paid off each month. Maybe if they didn't waste so much money on stupid celebrity commercials…