Wal-Mart: Your New Banker?
Because Wal-Mart has built-in profit from retailing and a conservative management style, I suspect its tactics would have been vastly different from the Wall Street financiers who collateralized subprime mortgage obligations.
Instead of preventing Wal-Mart from entering the banking industry, we should have welcomed its competition and learned from its ideas. Shame on traditional bankers for fearing Wal-Mart's rivalry. Good competition should force rivals to focus on serving customers better.