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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Shocker: Europeans think American bailout plan is inferior
@ October 11, 2008 # No Comment Yet
The head of the International Monetary Fund (”IMF”), Dominique Strauss-Kahn, thinks we are on the brink of a global financial meltdown as prices crashed more than 20 percent last week and steps taken so far have not stabilized the markets. The IMF also prediced that shares could fall another 20 percent in the next few [...]
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