Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (50421)	1/20/2006 12:21:29 PM
From: shades	Respond to of 110194

Walmart knows where the real cash cow is - not extra low prices - but being a banker - hehe DJ FDIC To Wait On Full Board, Hearing For Wal-Mart Bk Vote . WASHINGTON (Dow Jones)--The Federal Deposit Insurance Corp. will wait for its board to be fully staffed before deciding on Wal-Mart Stores Inc.'s (WMT) controversial request to provide federally insured banking services, the FDIC's acting chairman said this week. "I believe that the board of directors will be fully constituted before a final decision is rendered on this application," acting FDIC Chairman Martin Gruenberg said in a letter Thursday to U.S. lawmakers. The agency's board currently has four of five seats filled. In the letter, released Friday by the lawmakers, Gruenberg says he also expects the FDIC to wait for a public hearing before deciding on the application, noting Wal-Mart's request has drawn more than 1,500 public comments and more than 90 requests for hearings. Wal-Mart's status as the world's largest retailer has drawn intense interest in its application for federal insurance of back-office banking services by a subsidiary firm known as an industrial loan company, or ILC. Wal-Mart says the ILC charter will help process electronic checks and credit- and debit-card transactions. But critics say Wal-Mart could use an initially limited charter to expand in the future into general banking services, using its size and influence to shut out competitors. Gruenberg was responding to Rep. Barney Frank, D-Mass., ranking Democrat on the House Financial Services Committee, and Rep. Paul Gillmor, R-Ohio, two signatories of a letter 23 House lawmakers sent the acting FDIC chairman last month. The letter requested full staffing of the agency's board before a decision on Wal-Mart's request. Frank and Gillmor have also asked the FDIC whether any approval of the Wal-Mart application could permanently restrict the ILC subsidiary to activities cited in its original application.

To: mishedlo who wrote (50421)	1/20/2006 12:23:15 PM
From: Paul Kern	Respond to of 110194

By Deborah Lagomarsino Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--The U.S. Treasury Department Friday asked bond dealers for input on the size of the 30-year bond offering it will announce Feb. 1 and reaffirmed plans to sell a total of $20 billion to $30 billion in 30-year bonds each year. "Please elaborate on the factors that influenced your estimate of the appropriate size of the 30-year bond offering and describe market conditions in the long-end of the market," Treasury asked in its agenda for meetings with 11 of the 22 primary dealers slated for next week ahead of the Feb. 1 quarterly refunding. (MORE TO FOLLOW) Dow Jones Newswires 01-20-06 1212ET