Oh, goody! Wal-Mart going to go into the home mortgage business!

[sinkingfeeling]

http://www.msnbc.msn.com/id/17626678/

NEW YORK - Wal-Mart Stores Inc. renegotiated leases with banks in its stores so the discount retailing giant can offer mortgages, home-equity lines of credit and consumer loans, the Wall Street Journal reported Thursday.

At a press conference, Republican Rep. Paul Gillmor distributed a copy of an e-mail from a Wal-Mart executive with language the retailer has included in tenant leases letting it reserve the right to offer a variety of financial services, including mortgages and home equity loans.

Gillmor said the e-mail suggests Wal-Mart has been deceptive in its disclosure of its banking plans.

Earlier this year, the Federal Deposit Insurance Corporation voted to extend a freeze on applications by commercial companies to open or acquire ILCs. The U.S. House Financial Services Committee plans a March 22 hearing on the issue.

[Donnachaidh]

1. didn't they get SHUT DOWN by Congress on this already?

WTF?

[Double T]

2. Where does the insanity end?

Wal-Mart HMO and Outpatient Surgery Centers standing by.

[madinmaryland]

5. I think they already have started that in some locations.

At least care that can be given by a medical assistant, with regular doctor hours a couple times a week.

[Double T]

11. I'm sure the medical assistants and doctors are available to...........

implant the Wal-Mart RFID chips in their customers.

[madinmaryland]

14. I figured it must have something to do with mind control...

:tinfoilhat:

[Bluedogvoter]

12. Wal-Mart churches.

You can donate 10% of your earnings and get special in store coupons!

[Double T]

18. ROFL!!! The minions will be singing hymns at the checkouts.........

as they rotate their foreheads, with the Wal-Mart tattooed bar code, across the scanner to deduct 10% of last weeks paycheck.

[southerncrone]

3. Let me guess....

their specialty will be financing mobile homes. :sarcasm:

[HereSince1628]

4. Yurts!? I definitely think they can import Yurts cheap from Mongolia

The last thing I want is a happy face around today's interest rate.

[southerncrone]

6. Ah, yes, the happy face

WM's feel-good icon while they screw everybody out of their livelihoods!

}( That's more like it!

[The2ndWheel]

7. Wal-Mart will be giving out Wal-Mart's?

Then we'll have to Wal-Mart in our Wal-Mart. Obviously after Wal-Mart, that's a given. Then we'll be so tired from our Wal-Mart, that we'll have to Wal-Mart on the Wal-Mart. Then we'll have to get the Wal-Mart to get to the Wal-Mart so that Wal-Mart can get the Wal-Mart. Because if we don't have the Wal-Mart, how are we supposed to Wal-Mart? At least Wal-Mart will be there to help with Wal-Mart. Then finally we'll be able to Wal-Mart. That'll be a big Wal-Mart off our Wal-Mart.

[tridim]

9. Malkovich, Malkovich..

Malkovich!

[tridim]

8. Are their banks run by the Chinese too?

I think Sears used to sell prefab homes in the 40's and 50's, maybe WalMart should get in on that too and sell sub-par Chinese manufactured prefab homes to all the vets returning from Bush's bullshit wars.

[Bluedogvoter]

10. Could they be better than the current sleeze ball lenders?

Honest question. I think lending institutions have the most to lose if Wally gets into the business.

[ProfessorGAC]

15. Better Question: Could They Be Worse?

I don't think this expansion into the lending market will pass FTC review, but we shall see.
The Professor

[Bluedogvoter]

22. I don't see how they could be worse.

Its low income people that get screwed over the worst by the current lenders. If wally can cater to this market and bring stiff competition to the current lenders I say good for them.

[ProfessorGAC]

26. We Concur

The Professor

[Morgana LaFey]

13. Hey! I've got an idea

Maybe we could let them -- and some of their corporate buddies -- just go ahead and run our goverment too. We can cut out the middlemen (those elected by the people).

[Virginia Dare]

16. Been there, done that!...n/t

[tanyev]

17. I pledge allegiance to the smiley of the United Corporation of Wal-Mart;

and to the shareholders for which it stands; one corporation, over the entire planet, with cheap, crappy products for all.

[tridim]

19. Wow, that's scary. Very few people realize how close we are to exactly that.

No doubt that WAS the plan until the 06 elections.

[HereSince1628]

25. Hey, their motto is Customers get to Buy Cheap, and OFTEN!

That's Sam's method for redistribution of wealth. Make people poor and seemingly dependent on the discount house. Then trap them in an endless cycle of buying junk two to three times as often as they should thus overpaying (and picking up various impulse buys) by 20%-30%.

[youthere]

20. The church of Wal-Mart.

[lectrobyte]

21. Idiocracy ref: Welcome to Wal*Mart, I love you!

If you haven't seen Mike Judge's "Idiocracy", please do so, it's one of the best satires of our current situation and where we're headed I've seen. This post brought to you by BRAWNDO!

[Scarlett17]

27. It's got what plants crave!

It's got electrolytes!

[SmokingJacket]

23. Seriously, I thought you were going to quote from the Onion... nt

[underpants]

24. "I owe my soul to the company store"

18 tons