Wal-Mart banking bullies

Los Angeles Times ^ | 19 MARCH 2007 | EDITORIAL

[rdb3]

EDITORIAL

Wal-Mart banking bullies

The retail giant has been foiled yet again by its enemies, this time in trying to open a bank.

March 19, 2007

THE ANTI-WAL-MART lynch mob has prevailed again, forcing the retailer to forgo plans to establish a bank. The mob has become a powerful force, bringing together the company's usual big-labor antagonists, mom-and-pop Main Street merchants and the formidable American Bankers Assn. Recognizing that the company's bid to create a so-called industrial loan company faced a hostile regulatory environment, Wal-Mart on Friday withdrew its 2-year-old application before the Federal Deposit Insurance Corp.

That's a shame. Whether it's a good idea for Wal-Mart to issue a credit card without partnering with other banks is one issue. A company being bullied out of pursuing its commercial interests is quite another — and an alarming one at that.

[rdb3]

On and on and on...

[Jet Jaguar]

Bump.

[Gabz]

Wal Mart Ping...........

[HaveHadEnough]

This is more of a decision in favor of Citibank, JPMorgan Chase, and others, than it is against Wal-Mart. This was all about titans battling it out.

[kylaka]

Well hey, the USA isn't the only country in the world. In fact the USA proudly lays claim to only one (1) of the ten largest banks in the world. We can still try for zero, (0), none, zip, nada. Then the libs will really have something to crow about.

[highimpact]

The war against free enterprise wins another battle...

[Gabz]

That's the way I see it.

[VOA]

bump

[bad company]

In before this turns into yet another wal-mart bashing thread.

[Diana in Wisconsin]

Let's see if I've got this straight...it's just FINE with the Libs if Bank of MexAmerica offers no-ID required credit cards to illegals, not to mention home loans, etc. But if Wal-Mart wants another piece of Joe SixPack's business by providing convenient banking services to him while he spends most of his paycheck with them anyway, this is somehow immoral and bad business?

I'm glad I keep my money in a shoe box buried in the back yard, LOL!

How we ever manage to keep ahead of these Socialists is beyond me. It's a constant, never-ending onslaught against business and basic working stiffs like you and me.

[Gabz]

Amen, Sistah!!!!!!!