AS reported in the WSJ.  AmEx is trrying to get some of that bailout pie.

American Express Co. which is being hit by slowing consumer spending and rising defaults, is seeking roughly $3.5 billion in taxpayer-funded capital from the federal government, according to people familiar with the situation.

The card issuer is the latest company not directly hit by the housing crisis to request cash from the federal government. While retailers, car companies and others hit by the slowdown in consumer spending haven’t gotten the government money, financial firms of all kinds are getting federal bailouts.

It isn’t clear if the application under the Troubled Asset Relief Program came before or after the credit- and charge-card giant got Federal Reserve approval Monday to become a bank-holding company.

So far, 52 financial institutions have received preliminary or final approval for about $172 billion of the $250 billion available under the capital-infusion program, according to Keefe, Bruyette & Woods, a New York firm that specializes in the financial-services industry. Another 23 companies have submitted applications for an additional $4.6 billion.

Please…what is next?  The Bank of Home Depot?  National Bank of Applebees.  The greed is getting massive, they are all scrambling trying to find ways to get the taxpayers money.  I mean it is a great deal……