BankofWalmart

[Guest guest]

We need to stop supporting this behemoth or soon our only choice for

anything will be " WallyWorld " .They seem to be set to take over every aspect of

our economy and destroy it in the process.

 

 

 

Just like the " factory towns " of old, Wal-Mart wants to have its hand in

every piece of the pie - and its next move is managing your money.

 

Last September, Wal-Mart unveiled plans for the " Bank of Wal-Mart " : an

enormous power play to boost Wal-Mart's domination of our economy by creating

one of the largest financial institutions in the country.

 

Together with the former and current Chairs of the Federal Reserve and

over 50 members of Congress from both sides of the aisle, we rang the alarm bell

and together we forced the FDIC to extend the public comment period and hold

hearings on this important decision.

 

You stopped Wal-Mart from sneaking its bank through the process, and now

it's time for you to weigh in on these hearings. We've found the email address

to send comments to the FDIC - take a moment to compose your own thoughts and

tell them why the Bank of Wal-Mart is a bad idea:

 

http://walmartwatch.com/tellafriend/bank

 

What does a " Bank of Wal-Mart " mean to you?

 

Stability is the bedrock of the American financial system, but the Bank of

Wal-Mart would threaten that with a dangerous concentration of commercial and

financial power. Even more troubling, Wal-Mart is using a recent loophole in

federal law to establish its bank, which would be regulated by the FDIC and

would not be subject to the same strict regulations as other banks that are

regulated by the Federal Reserve.

 

And there's also concern about the economic impact of the Bank of Wal-Mart

on your community. When the enormous bank comes to town, it will threaten the

local alternatives, just like super centers have undermined so many other local

stores. Then, with these critical centers of capital gone, local businesses that

compete with Wal-Mart may be forced to rely on the retail giant's bank for

loans.

 

I'm giving my testimony on April 11th, but it's important that your

comments are heard before then. The FDIC wants to hear from the public, and

we're missing a big opportunity to affect the debate if we're silent now. Take a

moment to put your thoughts together and send them straight to the FDIC:

 

http://walmartwatch.com/tellafriend/bank

 

I look forward to browsing through your comments as I prepare for my own

testimony. Once I'm done there, I'll be sure to follow-up and let you know where

we are with this important issue.

 

Thanks for your continued support of Wal-Mart Watch.

 

Sincerely,

 

Andrew Grossman

Executive Director

 

Paid for by WalmartWatch.com, a campaign of Five Stones and The Center for

Community and Corporate Ethics

 

To : http://walmartwatch.bluestatedigital.com/