November 12, 2008

Deep Thoughts

November 12, 2008/ Geoff Shackelford

On the news that American Express is seeking $3.5 billion in government funds because the company packaged pools of credit card debt and sold them to investors in the securitization market (good one!), I'm just wondering if (A) this means we won't get those incredibly cool little TV's at majors and (B) if this is part of the USGA's education in improved business practices.

After all, in Walter Driver's 2007 President's letter, he wrote that the USGA was "learning from our corporate partner, American Express, how to be more responsive and tailored to our individual Members."

Maybe they're packaging pools of lousy handicaps to investors in the secularization market?

Geoff Shackelford

Geoff Shackelford is a Senior Writer for Golfweek magazine, a weekly contributor to Golf Channel's Morning Drive, is co-host of The Ringer's ShackHouse is the author of eleven books.