AmEx Wants Bailout Money

Who’s the next customer in line for in line for bailout money? The Wall Street Journal, citing “people familiar with the situation,” says American Express has requested $3.5 billion from the federal government. AmEx has been hit by a consumer spending slowdown and an increase in delinquencies and defaults. The Journal reports, “An infusion would give AmEx greater flexibility in funding its operations but likely won’t help with the consumer-spending slump.” By one count, 52 companies are on track to collect bailout money.