Doing business with gun manufacturers might benefit the banks’ bottom line, but they put our police officers, our children, and our communities at risk ...
Posted on 01/25/2013 7:01:46 AM PST by Zakeet
Chicago Mayor Rahm Emanuel, moving to take a lead role in the gun control debate, is turning up the pressure on banks that do business with firearms manufacturers.
Emanuel is sending letters to two major financial institutions, TD Bank and Bank of America, which offer lines of credit to gun makers suggesting that they stop lending money to the manufacturers if they don’t come out for new gun restrictions.
“TD Bank currently aids the gun manufacturing industry through a $60 million revolving line of credit with Smith & Wesson, a gun manufacturer that produces the AR-15 – an assault weapon that was used by James Holmes to kill 12 people and wound 58 in a crowded movie theatre in Aurora,” Emanuel’s missive to TD CEO Bharat Masrani states. “I ask you to use your influence to push this company to find common ground with the vast majority of Americans who support a military weapons and ammunition ban and comprehensive background checks.”
Noting that Chicago’s municipal employees and teachers had already divested money in pension funds from gun makers that are opposing new gun laws, the White House chief of staff-turned-mayor wrote: “Now we need you and other commercial banks to join this fight for safer streets. Collectively we can send a clear and unambiguous message to the entire gun industry that investors will no longer financially support companies that profit from gun violence.”
(Excerpt) Read more at politico.com ...
Doing business with gun manufacturers might benefit the banks’ bottom line, but they put our police officers, our children, and our communities at risk ...
I think banks should stop doing business with Chicago.
NAILED IT Exactly!
Banks cannot afford to let businesses know that banks aren’t needed.
Pure fascism bordering on extortion, take your pick. Think and do like we tell you to, or there’s gonna be trouble.
This goes back to the bailouts. Now the fascists in power are looking for their pound of flesh.
It’s amazing how liberals are suddenly for private enterprise when they can manipulate it to serve their own agenda.
Gun manufacturers and ammunition manufacturers should stop selling their products to gun banning cities like Chitcago.
Support your local credit unions. The largest banks all seem to have gotten disgusting diseases from being in bed with government.
I already boycott B of A.IF TD gives in to the thugs in Chicago, I will close my accounts with them and boycott them forever. I just sent an email to that effect to my account manager at TD, and I will follow through with a phone call later today and then by closing my account if TD acts irresponsibly. I hope everyone on FR and other patriotic Americans will stand up for freedom and help TD and other banks to do the right thing.
Gee that’s tough, let’s see....
Stop doing business with a good customer,
or stop doing business with someone who
thinks they can lean on you to make you
tow their political line.
Tough choice eh.
Firearms manufacturers should boycott Chicago PD.
I’m already pulling my business acct out of BofA. It’s kinda sad because the folks that run my branch are very friendly to me and have bent over backward to give me great service. Too bad they work for a bank that has a leftist political agenda.
A bit stupid to stop doing business with one segment of our economy that is doing better than ever.
Is it legal for a publically owned institution to discriminate against a legal, legitimitate, financially sound business interest??
Does Rahm really want to push the financials of the firearms industry underground?
Definition of FASCISM
1 often capitalized : a political philosophy, movement, or regime (as that of the Fascisti) that exalts nation and often race above the individual and that stands for a centralized autocratic government headed by a dictatorial leader, severe economic and social regimentation, and forcible suppression of opposition
2 : a tendency toward or actual exercise of strong autocratic or dictatorial control (early instances of army fascism and brutality — J. W. Aldridge)
Yeah... That's what I thought.
USAA would be wise to pick up the slack.
Since both the city of Chicago and the state of Illinois are running continuing deficits, which banks are handling their bonds? Are any banks loaning them money directly?
This begins to impinge upon national security. Dry up the operating funds for the arms industry and you dry up the R&D and production of the equipment required to secure our country.
5.56mm
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.