American Express Hops on the Bailout Bandwagon

 And on and on it goes with this bailout fiasco. American Express has filed for and was granted approval to be listed as a commercial bank. Not only were they approved but the whole process was fast-tracked and the 30 day waiting period was waved by the federal government.

 Why did American Express file a request to be listed as a commercial bank? The answer is simple, they were not going to receive any money from this horrible bailout bill that the taxpayers have been burdened with, now they can apply to hop on the bailout bandwagon gravy train.

American Express Co. won U.S. Federal Reserve approval to become a commercial bank, gaining access to government funds as credit-card defaults climb with economies slowing around the world.

  Here is what American Express’ CEO had to say about the decision:

Given the continued volatility in the financial markets, we want to be best positioned to take advantage of the various programs the federal government has introduced

 Take advantage of? He couldn’t have made that point any more clearer. American Express is not only “taking advantage of” the programs that the government has implemented, American Express is “taking advantage of” the taxpayers. As companies line up to steal from the taxpayers one has to wonder who will be next and where will it stop?