Cutting Interest Rates for Big Lenders Helps the Sub-Prime Impoverished

Wal-Mart CEO H. Lee Scott Jr. says customers are "running out of money."

Earlier this week, consumer juggernauts Home Depot and Wal-Mart reported softer than expected earnings.

Penned the New York Times, "the sober forecasts reverberated across Wall Street, sending the Dow Jones industrial average and the Standard & Poor’s 500-stock index down by nearly 2 percent, with the Dow dropping more than 200 points. Shares of both Wal-Mart and Home Depot fell around 5 percent.

"Economists said the sluggish performance of the chains — Wal-Mart missed its profit forecast and Home Depot’s earnings dropped — could signal broader troubles in the economy."

Buried in the article was a sobering remark indeed: “Many customers are running out of money at the end of the month,” said H. Lee Scott Jr., the chief executive of Wal-Mart.

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