Posted on 11/12/2008 7:04:15 AM PST by Red Badger
American Express Co. which is being hit by slowing consumer spending and rising defaults, is seeking roughly $3.5 billion in taxpayer-funded capital from the federal government, according to people familiar with the situation.
The card issuer is the latest company not directly hit by the housing crisis to request cash from the federal government. While retailers, car companies and others hit by the slowdown in consumer spending haven't gotten the government money, financial firms of all kinds are getting federal bailouts.
It isn't clear if the application under ...
(Excerpt) Read more at online.wsj.com ...
Africa of course.
Guess that outsourcing of their call centers to India didn’t save all that much money.
Africa? The continent or the country?.............
Tell then to tap Jerry Seinfeld for the cash. He’s taken enough of theirs for lame commercials. ;)
Wow...where does it end? Seems every corporation is crawling out of the woodwork and attempting to squeeze in at the public trough...
Probably due to millions of people not paying their bills in full at the end of the month. It used to be difficult to get an American Express card. Now any idiot who can fill out the form can................
lol......I saw her talking about that with Greta.
No
There is something drastically wrong when you socialize the business risk but privatize the profits!
Circuit City? Starbucks?...........Fred Sanford’s Junk Shop?...........
They were commercials about “nothing”..............
Ok, ok...maybe I decided to use a wee bit O’ hyperbole...:-)
Unfortunately it’s true. Now, every mismanaged corporation will be wanting the government’s handouts. But when the government extends you a hand, they really want to give you the finger...........
This is outrageous. When are we, as Americans, going to rise up against this?
I watched the news last night as ABC went to that 400,000 conference AIG execs held at the ritzy Hilton in Arizona - they showed them getting into their rented town cars and dining out eating the finest foods and drinking wine, etc.
How many of us are doing this these days? Look, I’m all for wealth and not begrudging the next guy is due, but WE are bailing out these people and they are not showing the sobriety they should at our generosity.
I will never look at these greedy yahoos the same again. Never.
I pay all my Credit lines either in full at the end of the month or way above minimum payments, I have never been late on any payment for 25 years plus and have a very high credit rating because of it.
My Credit lines with AmEx are all above 20K USD, or should I say WERE.
We have used the AmEx accounts to run our business on being it saves on paper work and check writing. Out of the blue last month they dropped ALL our credit lines down to 1500 dollars. No warnings nothing. Just did it.
Pardon My French BUT F*#K NO they don't get a single cent of bailout money!
This damned handout business must stop somewhere!
It won’t end until we put a stop to it. Write your representatives people. Write them. In fact, we probably need to show up on their doorsteps.
That should have been a clue that they are in deep doo-doo. It's probably due to billions of dollars not getting paid on all those lines of credit that they extended to teens, college students and ne'er-do-wells..........
You have GOT to be kidding me...is this from the Onion?...I can’t believe I live in the US...THIS is really getting scary.
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