January 12, 2008
American Express Writes Down $275 Million
It was recently reported that American Express stock fell 7% after saying it would have to write off $275 million, thanks to more and more customers not paying their bills. Perhaps it would be a good idea if everyone were to stop paying their credit card bills and hit these credit card crooks where it hurts… their stock value.
American Express doesn't care about you or whether you can pay your mortgage, or feed your children. What they want is your money, and they'll do whatever it takes to steal it from you if you don't give it to them voluntarily. The stockholders in these companies were happy enough to profit from consumers with their high fees, crazy interest rates, universal default, and on and on. Why not give back a little of the crap they've been shoveling out?
Perhaps this time next year American Express will have to write down $275 BILLION instead of only millions. Cut up your credit cards and stop paying them!
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