Meta Blog Posted March 25, 2006 Report Share Posted March 25, 2006 From David Holcberg: No one has a right to prevent Wal-Mart from opening a bank. Wal-Mart runs its business and earns its profits by the voluntary decisions of its customers to shop there. A Wal-Mart bank would operate in the same legitimate way. No one would be forced to buy their products or use their banking services. That Wal-Mart might emerge as a formidable rival to established banks and possibly take away some of their business would be consistent with a free capitalist economy. It might actually bring to banking the same cost-cutting strategy that made Wal-Mart prevail over less-efficient competitors and become the preferred retail outlet of millions of American consumers. Neither Wal-Mart's competitors, nor consumer groups, nor the government have any right to have a say in what line of business Wal-Mart can or cannot go into. Wal-Mart's rights are not up for a vote. http://ObjectivismOnline.com/blog/archives/000726.html Quote Link to comment Share on other sites More sharing options...
Proverb Posted March 25, 2006 Report Share Posted March 25, 2006 I did something that made me sick today. I google-news'd "Wal-Mart Bank" and read the first three articles. When will people learn?! I rarely let statist liberals get to me, but this just grinds my gears!! If/When I have a huge corporate conglomerate, I will take it to the bank, and to the supreme court!!! I digress and will pause for a moment of calm. /rant Quote Link to comment Share on other sites More sharing options...
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