The U.S. Treasury is giving American Express almost $4 billion in TARP funds. Details here. This is appalling. If there is an organization less vital to the the economic viability of this country than American Express I can't name it. This is just so depressing. For what are they going to use the money? Consumer subsidies on $50 steaks at Ruth's Chris? Funding for a new pretentious ad campaign featuring the very special people who are "members?"What in the world is Paulson thinking? He denied the car companies help and then ladles in out for these idiots, who, as anyone who follows this industry knows, is in trouble because they started pumping cards out to pretty much anybody who asked for one a few years ago, and now they can't collect. What jerks.
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6 comments:
Now this is something I can get angry about.
Amex can now join the rest of the banks and refuse to account for any of the billions given to them -- while continuing to dole out(under the radar) perks to the spineless morons that run these companies.
There are so many to hate, but I think Paulson deserves the 2008 dirt bag award!!
Add another CEO to the bus full you would like to run over the cliff.It wouldn't solve the problem but would be a good start.Thank Christ my mortgage is conventional and at an affordable rate.My credit card debt isn't that high and my job is secure.I cannot wait to be fed the daily pablum in 2009. Merry Christmas..
My daughter got her first credit card mailed to her while she was in high school...her entire source of income was me. She didn't activate it but how many did?
They may want to scrub Gecko's quote, "Greed is good." It ain't quite turnout that way after all.
No complaints today. I hope everyone has a lovely holiday.
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