American Express. Is the wallet empty?
@ November 12, 2008 # No Comment Yet
American Express wants $3.5 billion in taxpayer bailout money, which explains why earlier this week Amex was deemed by the Federal Reserve to be a “bank holding compnay”, giving it access to Fed financing.
American Express has hit troubled times recently because its business model relied heavily on selling packages of credit card debt to investors; [...]
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Economic crisis results in 760,000 layoffs so far
@ October 30, 2008 # No Comment Yet
760,000 jobs have been eliminated as of September 2008, and a quarter of U.S. employers are expected to layoff many more within the next year. Employees in both Wall Street and middle America are feeling the impact of the current economic crisis. The Department of Labor has reported an estimated 110,000 job cuts in financial [...]
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