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Well, Congress has allowed Goldman Sachs (GS) and Morgan Stanley (MS) to convert to a Bank. Why not allow Wal-Mart to buy the next set of troubled banks?
In my opinion, allowing Goldman Sachs and Morgan Stanley to convert to a bank is far worse that Wal-Mart (WMT) entering the sector.
Fundamentally, why was General Electric allowed to enter the financial services sector and
Walmart be exluded? I know the two companies are in different primary sectors (industrial vs. retail), but how much difference does that make?
Friday, September 26, 2008
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1 comment:
Target was allowed to start their own bank.
I think it has to do with the vocal minority of Wal-Mart haters who lobby against Wal-Mart's efforts to obtain a bank charter.
I was wondering the same thing last week..."if Goldman and Morgan can become banks in a weekend, why not approve Wal-Mart because they've been trying for YEARS."
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