The Federal Reserve wants to know….What’s In Your Wallet?
Oops, wrong bank! Anyway, are you feeling the “Change” yet? As in, the change leaving your pocket and being redistributed to the pockets of someone, or something else? American Express’ new motto is, “Don’t Leave Home Without Your Bailout” as they hop aboard the Obama Express leading to destinations unknown.
From Michelle Malkin:
Cha-ching. Does your wallet feel lighter?
Just across the news wire: The Federal Reserve has agreed to a request by American Express to “become bank holding company.”
This move allows American Express to secure funds from deposits, which could be cheaper than borrowing in bond markets.
“In light of the unusual and exigent circumstances affecting the financial markets … the Board has determined that emergency conditions exist that justify expeditious action on this proposal,” as stated by the Federal Reserve in their statement.
Apparently us the tax payers are becoming the Bank for corporation that wants in on the bailout which was a huge mistake to begin with. Who’s going to bail me out when pockets are cleaned out and there is no “Change” left? Oh that’s right, I’ll get the re-distributed scraps that the Obamessiah throws me.