Regulators hold approvals of big-company banks
Bank regulators have halted for six months any new approvals of the sort of industrial banks that Wal-Mart, Home Depot and 12 other companies are seeking to own.
The Federal Deposit Insurance Corp. imposed the moratorium on approving the industrial loan corporations, or ILCs. Nearly 100 members of Congress from both parties recently asked the FDIC to give lawmakers a chance to consider legislation that would block commercial companies from owning the corporations.
Yeah, just what we need. More consolidation, more control by the few. At least someone is trying to stop it in this story, but these behemoth companies will probably run screaming to the courts to fight this.
The right wing won't stop until the country is completely destroyed and there is no competition left.
It ought to be soon.
The Federal Deposit Insurance Corp. imposed the moratorium on approving the industrial loan corporations, or ILCs. Nearly 100 members of Congress from both parties recently asked the FDIC to give lawmakers a chance to consider legislation that would block commercial companies from owning the corporations.
Yeah, just what we need. More consolidation, more control by the few. At least someone is trying to stop it in this story, but these behemoth companies will probably run screaming to the courts to fight this.
The right wing won't stop until the country is completely destroyed and there is no competition left.
It ought to be soon.
posted by TheFuriousGourmet | 8:06 AM
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