American Express made it self a bank to get a hand out, is that fair?

You know I was actually going to make a joke on Zehpyr's thread about the bailout saying how I should make myself a bank just to get a bailout. I can't believe someone actually beat me to it. I need to get my computer business up and running fast to get myself added to the bailout. You do know that Circuit City is trying to add themselves to the bailout as well right? That means my own business should be able to qualify soon. I haven't made a dime in my computer business in over 8 months so I should be able to qualify.

One word that comes to mind is: WRONG! At this point in time, with food prices, gas prices and everything else I think the people need a bailout too! I think we should all be classified as banks! Yes that is the answer, we should all put in to be reclassified as banks. I think we all handle money and it doesnt seem to matter how it is handled so lets go for it! Another thing, there are to many credit card companies in my opinion, so get rid of the ones that cant sustain themselves. Would we really miss it? I dont think so!

American Express is just to big to fail. I do wonder who decides what company is to big to fail. Come on do we really need American Express. Most places do not even accept AMEX card. I do not have any credit cards except my company business card, but I can only use it for business only expense so I do not know how many credit card companies there are. I know that there is Visa and MasterCard, I cannot forget about those two because they send my pre-approval letter every week. I am guessing Discover card is still in business, but I cannot remember if I have receive a pre-approval letter from them lately. My point is this, do we really need AMEX, or could not those other fill in the gaps. About this whole bank thing, I do not get it.

Yeah, I heard about it. Here is my response: http://www.mylot.com/w/discussions/1790730.aspx

Just wait until all the loan sharks and leg breakers form thier bank and ask for a bailout lol this is so a joken but really all the chit is gonna hit the fan and go spinning out of control. Tell me what would happen if all the homeowners refused to pay thier mortgages? Would they be able to keep up with all those foreclosures? What would they do perhaps start listening to us then?

I think maybe there should have been a discussion started such as "how many people aren't mad about all the bailouts" But I'm sure no one would respond to it lol This has just made me fuming mad. Geeze I forgot to pay my car insurance this month guess the government will have to pay for it.

Hey, I lent my friend $5...am I a bank right now? I am broke and need a few billion. I promise to spend it way better than those jerks who are getting the money now. I do understand why the goverment is doing it- we need help stimulating our economy and all of these businesses going down is not a good thing. What I don't get is why these companies are allowed to get away with continuing to pay employees high salaries, send them on vacations and still use first class to fly. This isn't supposed to be a get out of jail free card. I am not getting bailed out of my mortgage, my overdue credit cards, my student loans even though I could use it way more than those guys getting vacations and huge raises.

I guess the little old grannies who keep all their valuable posessions in a safe in the basement should be classified as banks too, with that logic. Ooh ooh! How about the moms who keep their money stuffed in their mattress? Bail out = stupidity that may sink the nation/some of the most astounding stupidity and greed I've seen in my lifetime. It's probably also historic, considering how it will be remembered in the history textbooks and biographies a few generations from now. *ponders* Did I ever tell you how much I hate credit cards and the companies that created them? I don't hate alot of things, to be honest. But credit card companies really bring it out of me. They kinda always have. *sighs*

This bailout is good business. It's brilliant actually! The people who create money are making money by making more money. It doesn't matter to them who they give it to, so long as they can create more of it to make more of it. The easiest way to make more of it in the largest quantities possible is to do these bailouts. American Express is just cashing-in on a loophole and the people who create the money are happy to let them do it. The movie Zeitgeist Addendum lays it out pretty well. www.zeitgeistmovie.com Watch it if you're interested to see how money is being made through the creation of money. Happy MyLotting!

that ridiculous, i didnt know that, and i like this discussion. The fact that this money will be going in to CEO already rich pockets most likey is worse. I sturggle on a daily basis to have enough to buy a paper or kaffe, and they throw money around like its nothing.

No, it is not a bank. It is a credit card company and does not deserve out taxpayer dollars at all. We all need to be classified as banks. I am a mom and credit card companies like American Express always take advantage of people like us.