So the other day, American Express asked to become a bank holding company. Not that it was a big deal, but in doing so they would then be eligible for money from the $700 billion dollar piece of crap legislation passed by congress and signed by my president. But they didn’t ask right away, so perhaps they were just changing their business model to adjust for the recent credit crunch. (Not!)
Well, of course, yesterday the former credit giant lined up with all of the rest and requested $3.5 billion dollars. To their credit, they are not asking for a bailout, just ‘an investment’. However, Chief Crook, I mean Secretary of the Treasury Paulsen, has announced that he is not buying bad mortgages anymore but rather ‘investing’ in banks- of which AMEX is now one. Funny how things work out like that, eh?
Add that to the proposed crap bailout of the worst business failures in the world, the American auto industry, and the slope just keeps getting more slippery. Congressional leaders are flipping stupid. Sorry, but I wish I had the resources to run, because I have no doubt I could do better than they.
Hold on to your wallets. It will be all that you have left in the end.
The revolution is at hand. Will you be a leader or a follower?