Anyone follow AXP and have an opinion on this? http://www.justice.gov/ag/speeches/2010/ag-speech-101004.html I like AXP's press release and am bullish, but this is definitely interesting news... http://about.americanexpress.com/news/pr/2010/doj.aspx The department of justice is talking about how there isn't enough competition in the payment business. Is anyone else besides Visa, Mastercard, AmEx or Discover trying to break in? This is frivolous in my opinion.
Apparently not entirely frivolous, as Visa and Mastercard quickly caved in and agreed to alter their merchant contracts. I think the JD will prevail with AXP as well.