Amex seeing worsening credit


	Amex seeing worsening credit

jaypeewar

6-26-2008 2:12 AM

73 views

tags:

us recession, fuel crisis, us economy

jaypeewar says:

seems like the economic woes badgering the average joe is finally getting to the more affluent.

Add a Comment

Login to Comment. Not a member yet? Sign up

View the Top Clips from June 26, 2008

Embed This Clip In Your Site...

<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/42dd09b7-2c1b-4ea9-a6c6-33f2515ecd6c/E54A2F76-9192-4CE4-8B61-6F3EDA17B12B/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://biz.yahoo.com/ap/080625/american_express.html" href="http://biz.yahoo.com/ap/080625/american_express.html" style="font-size: 11px;">biz.yahoo.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://biz.yahoo.com/ap/080625/american_express.html"><P>After announcing Wednesday that it will be getting $1.8 billion from MasterCard Inc. in settlement of an antitrust suit, the credit card lender -- known for catering to jet-setters and the well-heeled -- revealed that it has again underestimated how quickly its cardholders are falling behind on their debt.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://biz.yahoo.com/ap/080625/american_express.html"><P>"Business conditions continue to weaken in the U.S. and so far this month we have seen credit indicators deteriorate beyond our expectations," said AmEx Chief Executive Kenneth Chenault in a statement.</P><P>The rocky consumer climate comes amid a tough legal period for credit card companies, which are battling among themselves and with federal authorities around the world over various rules and fees. Wednesday's settlement was seen by industry experts as positive for both companies -- mainly because the $1.8 billion figure was close to expectations, and because the two companies can now put the litigation behind them.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/E54A2F76-9192-4CE4-8B61-6F3EDA17B12B/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

Clipmarks: Home; New Clips; Top Clips; Dashboard

Popular Topics: News; Life; Science; Technology; Entertainment

Get Started: Sign Up; Install Clipping Tool; How Clipping Works; Clip-to-Blog™; ClipSearch

Tools and Resources: FAQ; ClipWeek; Top Clippers; Top Tags; Site Map

About Clipmarks: About Us; Contact; Blog; Copyright; Privacy; EULA

Search Options

Related Clips

More clips from jaypeewar

Today's Top Clips