Desperate.

A Rare Opportunity To Buy AmEx On The Cheap

I have nothing against Amex, no positions here, but I think the 9-11 comparison isn't really a good one to use here. 9-11 was a surprise attack that caught everyone off guard. No one saw that coming and what would happen immediately afterwards.

What we're beginning to see is that the "subprime bubble" might actually be a "consumer bubble" with people living well beyond their means for too long. Subprime is sure a big part of it, but you don't hear much (yet) about the credit card debt and loan debt people made in the same timeframe.

For every subprime loan that was made on overinflated home, how many HELOCs were taken out to their max values in the same timeframe?

Cracks are starting to appear and they could spread a lot quicker now that the dam is bursting.

I don't doubt that Amex will be a good company to own in the future, i'm just not sure you won't be better off waiting on the financials. I do not believe this is a "rare opportunity" at all.