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Fairness
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It's only AMEX exposed to the credit risk, VISA and MC are not; they passed it over to their issuing banks. Smart, very smart!
Jul 09 13:48 pm
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All Comments by Fairness »American Express CEO Ken Chenault on CNBC: Sober and Direct [View article]
That's how they avoided all the latest credit troubles, and that's why when everyone else is hurting, VISA makes another nice quarterly profit...