Stossel - NYTimes Cluelessness Part IX
Okay, I admit I haven’t counted the exact number of stupid New York Times stories that I’ve blogged about, but it’s roughly nine.
This time they ran a big story about Wal- Mart Inc.’s Sam’s Club
“ introducing a program in which it facilitates loans for shoppers of up to $25,000, backed by the Small Business Administration…”
The NYTimes suggests that such “facilitation” is an exciting new sales promotion:
“retailers are taking matters into their own hands, …taking bold steps…”
What? What’s bold? This is just crony capitalism. Sam’s Club uses government to help itself, and compliant government rips you off.
If Wal-Mart really wanted to loan its customers money to help them buy stuff at Sam’s Club, fine. But why the heck is the SBA involved? Full article