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Are AmEx's clients disproportionately going bust?

Visa isn't seeking help, does that make sense?

And if AmEx does go bust what's the damage?

AIG and Lehman had all kinds of counter party risk, but who exactly would be hurt by AmEx going belly up?

Amex issues the cards themselves, exposing them to way more risk than mc/visa. Look at the branding on your credit cards. Amex will be front-and-center on an Amex, but on most other cards it's the issuing bank. Unless it's micky mouse or your kids or some shit.

If you don't pay your Amex bill, i think Amex takes a hit to pay the merchant. If Amex were to implode, those merchants could get fucked.

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