Wal-Bank - The Rasputin of financial institutions

Thanks to contributor Robert

No matter how many times Wal-Mart fails to create a "Bank of Wal-Mart," the company always seems to find a way to bring it back to life.

Seven months ago, you helped us keep Wal-Mart out of the banking business. But now, the Federal Reserve is looking into changing the rules completely - and may throw open the door to giant corporations like Wal-Mart to run their own banks.

At a time when our economy is already in crisis, we can't turn the banking industry over to Wal-Mart. Please write a note to Fed Chairman Ben Bernanke and the Banking Committee leaders in Congress, and let them know what's at stake:

http://action.walmartwatch.com/NoBankofWalmart

Wal-Mart CEO Lee Scott has publicly stated that 20 percent of Wal-Mart shoppers don't even have checking accounts.

Just imagine what could happen to our economy if Wal-Mart controlled the banking industry.

Since the Great Depression, strict U.S. policy has kept giant companies from operating or owning banks. The Fed may be trying to change the rules quickly and quietly, without giving the American people a chance to ask questions or express our concerns. We need your help again now to make sure Wal-Mart doesn't take another step closer to its dream of being America's biggest bank.

We can't let the Federal Reserve quietly remove a restriction that has protected American families' money for nearly eighty years.

Write to the leaders of U.S. banking policy and warn them about the dangers of "The Bank of Wal-Mart":

http://action.walmartwatch.com/NoBankofWalmart

For more than two years, you've helped us block Wal-Mart's banking ambitions. With your help, we will do it again.

Thanks for your continued support.

Sincerely,

David Nassar

Wal-Mart Watch