1.0 link 144012 http://www.huffingtonpost.com/emma-coleman-jordan/diving-for-dollars-and-th_b_144012.html The powerhouse credit card company American Express has just joined the storied list of financial firms converting to bank holding companies. Like Merrill Lynch and Salomon Brothers, American Express is seeking shelter from the subprime storm by converting to the highly regulated Bank Holding Company form. In another economic climate, these voluntary conversions from the largely unregulated corporate forms that shape credit card companies and the minimally regulated and often wild, risk seeking investment bank culture would be inexplicable.

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