The directors of American Express will be having quite a happy holiday season, as they prepare their coffers for a staggering 3 and a half billion bailout from TARP funds on Christmas Eve-Eve. While the big three car companies are forced to eliminate jobs and reduce wages as part of their share of the bail-out, not unpredictably, no strings are wrapped around this present to the world’s second oldest, and most odious business. What is unbelievable is that a credit card company does have an enormous capability to immediately pay some of that bail-out money out to the citizens under-writing it, by reducing late fees and interest rates.
Merry Christmas, American Express!
Posted on December 23, 2008
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