Enfranchising Poverty
The Great Walmart Satan Strikes Again
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  • Fat_Man

    The same people who are inclined to oppose Wal-Mart, are also given to complaining about the concentration of assets in the nation’s biggest banks and about “too big to fail”.

    They need to understand that the quickest and least expensive way to disperse banking assets is by letting new players like Wal-Mart into the system. If Wal-Mart were to succeed in taking banking business from the big banks, it would encourage other big retail chains, like Target, Kroger, and Costco to come in. We might then see a less concentrated banking system.

    • FriendlyGoat

      Yes, and the United States Post Office should also get in the act by offering the payday-type loans at a small fraction of the prices now charged by the predatory sector—-while still making enough to fix the postal system.

  • Bruce

    Is this not a better account for those who aren’t in the low income category as well? Getting away from the $34 overdraft fees is good, regardless of your income. As Fat_Man stated, this could be a good step towards an expansion of the banking system. The option to extricate oneself from Citibank, Bank of America etc. looks very good. You have to wonder if regulatory roadblocks will be created. The Banksters don’t like competition.

  • Andrew Allison

    Many banks over free checking with a direct deposit of any amount. What is usurious, and would be a beneficial target for regulation, is the outrageous fees charged for “services” which in this day and age cost next-to-nothing. Given that a returned check means that there was no overdraft, it’s kind of hard to justify both a returned check and an overdraft fee.

  • canalway

    I’ll support any enterprise that keeps labor union and big government parasites out of mix. Walmart fits that bill. Big Government and the supporters in the labor union will stirrup your feet, stone hedge your head and stucco your mother to the wall.

    Low income people need more independence that the Walmart banking offers and less dependence the government uses to trap you and ensnare you into a life of dependence so they can amass power for themselves off the backs of the poor and middle class. So who’s the big satan. Why are enterprises like Walmart accuse of greed and never the government and their democrat union supporters.

  • Janice Woods

    Oh crap. This means another round of empty banking branch buildings littering retail centers.

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