Told you so: AmEx Earnings Drop 79% - WSJ.com

AmEx Earnings Drop 79% - WSJ.com

Earlier:

Amex next to enter the fail?

"Double, double toil and trouble; Fire burn and cauldron bubble. Cool it with a baboon's blood, Then the charm is firm and good. O well done! I commend your pains; And every one shall share i' the gains; And now about the cauldron sing, Live elves and fairies in a ring Enchanting all that you put in. By the pricking of my thumbs, Something wicked this way comes."

- William Shakespeare, "Macbeth", Act 4 scene 1

With disaster unfolding at Capital One one has to wodner how AXP is going to weather this storm. AXP reports earnings monday at 5:00pm it could be ugly. I'll be net buying volatility in AXP on monday. You've gotta figure when Ken Chenault turned AXP into a bank and took $3.5bn in TARP funds that he saw something ugly looming on the horizon.