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?