Comments on: AMEX: We Are a Bank, Too ! http://www.ritholtz.com/blog/2008/11/amex-we-are-a-bank-too/ Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media Sat, 21 Nov 2009 08:40:44 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: super_trooper http://www.ritholtz.com/blog/2008/11/amex-we-are-a-bank-too/comment-page-1/#comment-125610 super_trooper Tue, 11 Nov 2008 20:06:55 +0000 http://www.ritholtz.com/blog/2008/11/amex-we-are-a-bank-too/#comment-125610 "The Fed lets banks post consumer debt, such as credit card receivables, as collateral for loans from its discount window, which carry a 1.25 percent interest rate." Why am I paying almost 30% in interest rate on my credit card with AmEx? Shouldn't that be decreased to 7% or 1.25%? “The Fed lets banks post consumer debt, such as credit card receivables, as collateral for loans from its discount window, which carry a 1.25 percent interest rate.”

Why am I paying almost 30% in interest rate on my credit card with AmEx? Shouldn’t that be decreased to 7% or 1.25%?

]]> By: Greg0658 http://www.ritholtz.com/blog/2008/11/amex-we-are-a-bank-too/comment-page-1/#comment-125580 Greg0658 Tue, 11 Nov 2008 18:16:56 +0000 http://www.ritholtz.com/blog/2008/11/amex-we-are-a-bank-too/#comment-125580 fairs fair WalMart* too wonder what that'll look like in 25 years ... the town general store, grocery store, pharmacy, medical clinic and bank all under 1 roof ... thats efficiency ... probably have its own zip code, TIF district and Congressional seat :-) fairs fair WalMart* too
wonder what that’ll look like in 25 years … the town general store, grocery store, pharmacy, medical clinic and bank all under 1 roof … thats efficiency … probably have its own zip code, TIF district and Congressional seat
:-)

]]> By: sellthekids http://www.ritholtz.com/blog/2008/11/amex-we-are-a-bank-too/comment-page-1/#comment-125571 sellthekids Tue, 11 Nov 2008 17:56:05 +0000 http://www.ritholtz.com/blog/2008/11/amex-we-are-a-bank-too/#comment-125571 when i read about AmEx last night, it made me remember this opinion piece from the great, great past of last week! http://online.wsj.com/article/SB122584345511799173.html no worries, Harv, we know you only ran AmEx from 1993 to 2001. everything you did during that time was golden! --------------------------- @Barry: in the Wordpress dashboard, click "settings" and then choose "Reading". there is a setting for both # of posts and RSS entries to show. when i read about AmEx last night, it made me remember this opinion piece from the great, great past of last week!

http://online.wsj.com/article/SB122584345511799173.html

no worries, Harv, we know you only ran AmEx from 1993 to 2001. everything you did during that time was golden!

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@Barry: in the Wordpress dashboard, click “settings” and then choose “Reading”. there is a setting for both # of posts and RSS entries to show.

]]> By: dead hobo http://www.ritholtz.com/blog/2008/11/amex-we-are-a-bank-too/comment-page-1/#comment-125516 dead hobo Tue, 11 Nov 2008 14:39:18 +0000 http://www.ritholtz.com/blog/2008/11/amex-we-are-a-bank-too/#comment-125516 This is starting to look a little odd. Everybody wants to become a bank now. This isn't being done as makework. Where's the money? Over the short run, there probably isn't much. Looking down the road a few months or years, what changes so being a bank is a good thing, as opposed to before the bailout plan when this would not have even been considered? There's a scam in there somewhere. This is starting to look a little odd. Everybody wants to become a bank now. This isn’t being done as makework. Where’s the money? Over the short run, there probably isn’t much. Looking down the road a few months or years, what changes so being a bank is a good thing, as opposed to before the bailout plan when this would not have even been considered? There’s a scam in there somewhere.

]]> By: jason http://www.ritholtz.com/blog/2008/11/amex-we-are-a-bank-too/comment-page-1/#comment-125512 jason Tue, 11 Nov 2008 14:32:30 +0000 http://www.ritholtz.com/blog/2008/11/amex-we-are-a-bank-too/#comment-125512 Yes, let's throw more money away. It is only paper... I still like my plan. For every billion in bailout money we get one Executive's head and all his assets. Start at the top and work on down the line. The heads should be lopped off in public. AIG is at 150 Billion, that is 150 f%$king heads. We thirst for blood. Give me blood and I will give you eternity. Vlad Yes, let’s throw more money away. It is only paper…

I still like my plan. For every billion in bailout money we get one Executive’s head and all his assets. Start at the top and work on down the line. The heads should be lopped off in public. AIG is at 150 Billion, that is 150 f%$king heads.

We thirst for blood. Give me blood and I will give you eternity.

Vlad

]]> By: larster http://www.ritholtz.com/blog/2008/11/amex-we-are-a-bank-too/comment-page-1/#comment-125504 larster Tue, 11 Nov 2008 13:43:26 +0000 http://www.ritholtz.com/blog/2008/11/amex-we-are-a-bank-too/#comment-125504 So, we should not throw money at Detroit because they have proven themselves to be bad managers. Now tell me why we are throwing money at AmEx/AIG, etc.? So, we should not throw money at Detroit because they have proven themselves to be bad managers. Now tell me why we are throwing money at AmEx/AIG, etc.?

]]> By: AGG http://www.ritholtz.com/blog/2008/11/amex-we-are-a-bank-too/comment-page-1/#comment-125482 AGG Tue, 11 Nov 2008 06:28:57 +0000 http://www.ritholtz.com/blog/2008/11/amex-we-are-a-bank-too/#comment-125482 And if that wasn't enough to make you choke, get a load of this: US Government refuses to identify the recipients of 2 TRILLION dollars in "emergency" taxpayer loans. Don't look at me, I didn't get a brass farthing. The only bright side of all this is that the greedy bastards hogging all the money refuse to spend it and that's killing their business (finance). The old game theory axiom about people preferreing to lose money just to spite somebody rather than make money through cooperation is, sadly, true. Cash is king, folks. And if that wasn’t enough to make you choke, get a load of this:
US Government refuses to identify the recipients of 2 TRILLION dollars in “emergency” taxpayer loans. Don’t look at me, I didn’t get a brass farthing.
The only bright side of all this is that the greedy bastards hogging all the money refuse to spend it and that’s killing their business (finance). The old game theory axiom about people preferreing to lose money just to spite somebody rather than make money through cooperation is, sadly, true.
Cash is king, folks.

]]> By: Stuart http://www.ritholtz.com/blog/2008/11/amex-we-are-a-bank-too/comment-page-1/#comment-125477 Stuart Tue, 11 Nov 2008 04:40:07 +0000 http://www.ritholtz.com/blog/2008/11/amex-we-are-a-bank-too/#comment-125477 Wait for GE to apply..... really wouldn't surprise me if they tried. Wait for GE to apply….. really wouldn’t surprise me if they tried.

]]> By: CNBC Sucks http://www.ritholtz.com/blog/2008/11/amex-we-are-a-bank-too/comment-page-1/#comment-125474 CNBC Sucks Tue, 11 Nov 2008 04:09:32 +0000 http://www.ritholtz.com/blog/2008/11/amex-we-are-a-bank-too/#comment-125474 I just finished the PBS American Experience episode on the Crash of 1929. As a registered Republican (yup, that again), I have to say, "damn you, Barry Ritholtz". Who do you think you are, a modern-day Roger Babson? I swear I saw a few Larry Kudlows, Bob Dolls, and even a Phil Gramm in that documentary. Too bad we elected that black bastard, Barack Obama...I swear we were working on a picture-perfect replica of 1929 until his election last Tuesday. Too bad we couldn't have the modern-day Herbert Hoover following the modern-day Calvin Coolidge, because the next few years could have been quite entertaining. Why couldn't your damned stock market have started deteriorating a few months AFTER John McCain won, Barry Ritholtz??? I just finished the PBS American Experience episode on the Crash of 1929. As a registered Republican (yup, that again), I have to say, “damn you, Barry Ritholtz”. Who do you think you are, a modern-day Roger Babson? I swear I saw a few Larry Kudlows, Bob Dolls, and even a Phil Gramm in that documentary. Too bad we elected that black bastard, Barack Obama…I swear we were working on a picture-perfect replica of 1929 until his election last Tuesday. Too bad we couldn’t have the modern-day Herbert Hoover following the modern-day Calvin Coolidge, because the next few years could have been quite entertaining.

Why couldn’t your damned stock market have started deteriorating a few months AFTER John McCain won, Barry Ritholtz???

]]> By: david http://www.ritholtz.com/blog/2008/11/amex-we-are-a-bank-too/comment-page-1/#comment-125473 david Tue, 11 Nov 2008 04:05:47 +0000 http://www.ritholtz.com/blog/2008/11/amex-we-are-a-bank-too/#comment-125473 BR: Check the Reading panel of the Wordpress Settings. You can control how many posts per blog page. That doesn't specifically control the front page, so I'm not sure why you're only showing 2. E-mail me if you need help debugging. <b>Blog pages show at most</b> BR: Check the Reading panel of the Wordpress Settings. You can control how many posts per blog page. That doesn’t specifically control the front page, so I’m not sure why you’re only showing 2. E-mail me if you need help debugging.

Blog pages show at most

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