BY Herschel Smith
6 years, 2 months ago
The Daily Signal:
The state of Louisiana recently held some members of the corporate social police accountable for discriminating against law-abiding Americans.
By a vote of 7-6, the State Bond Commission excluded Citigroup and Bank of America from the running for a lucrative state contract. Our reason for doing so: these corporations had introduced bank policies that restrict legal access to firearms and bank misrepresentations on those policies.
While our governor and his allies sided with these anti-gun corporations, conservatives stood together to protect the Second Amendment rights of Louisiana citizens.
Citigroup and Bank of America’s policies were grotesque attempts to capitalize on the tragedy in Parkland, Florida. In the wake of the tragedy, they proudly and publicly announced plans to restrict the distribution, manufacture, and purchase of firearms.
When called to task by our commission this past spring, these “too big to fail” companies asserted that they had no policies restricting the availability of firearms to law-abiding citizens.
When asked to defend these positions a second time, Citigroup and Bank of America then attempted to convince us their policies would have minimal effects on Louisianans, stressing that they were specifically tailored to either a particular age group or class of firearm.
A “particular class of firearm.” Translation: BoA doesn’t think you have the right to own an AR-15, or any semi-automatic firearm, for that matter.
This is more than mere showcasing or theater. This is a big deal, as you know BoA wanted this deal. And the AG stood up not only to the elitist corporations, but to the own governor of his state.
Perhaps there’s a good future for Mr. Jeff Landry in politics. I hope so. We need more like him.
BY Herschel Smith
6 years, 6 months ago
Charlotte Observer:
Rather than weaseling out with the excuse that this deal (and who knows how many more) was already in the works, Bank of America must pull out of this agreement and deal with the consequences. The bank can use this moment to show true corporate leadership and create a template for bringing about real change in a post-Parkland world.
[ … ]
Here’s what Bank of America can, and should, do to honor and expand on its Parkland pledge:
First, the bank must promise to donate any profit it earns from its financing agreement with Remington to survivor groups that help gun violence victims pay the catastrophic medical bills they face. If the bank bails Remington out from bankruptcy, the least it can do is help those who are suffering the consequences of its products.
Second, the bank must go beyond assault weapons and commit to end all business relationships with gun makers period. After all, handguns are responsible for 65 percent of firearm murders in the United States.
Third, after decades of providing financing that has allowed gun makers to pump more guns into our communities, Bank of America must help clean up its mess by partnering with gun violence prevention organizations and sponsoring voluntary gun buy-back programs all across the United States. What better way to live its values of public safety than to actively take guns off of our streets?
There is a reason this editorial was sent to The Charlotte Observer and they printed it. The Charlotte Observer is progressive, and BoA executives all live in this area since the BoA home office is in Charlotte.
It’s never enough, is it? A progressive corporation who hates liberty deals a blow to gun manufacturers, and yet the controllers want more, and more and more, until BoA is illegally reneging on contractual obligations, banning all gun makers, and purveying bigotry towards gun owners as well.
You see where this is going, do you? Semi-automatic weapons is just the latest boogey man. They want them all, bolt action rifles, handguns, everything. Everything.
This particular controller is being a little impatient, but he wants to strike while the iron is hot. Even if it doesn’t work out for him, it’s just another lesson in the fact that there is no point of intersection for us, no point at which we can compromise, nothing in common, and nothing worth giving away to the controllers.
This is all-out war with them. See it that way, whether you want the war of not. It has come to your doorstep.
BY Herschel Smith
6 years, 6 months ago
Reuters:
Bank of America Corp is preparing to provide critical financing to Remington Outdoor Co, which makes assault-type rifles, just weeks after the U.S. bank said it would stop financing “military-style” firearms for civilians.
The bank is contributing $43.2 million to a $193 million lending package funded by seven banks, according to court documents, which will help put Remington back on stable footing as it emerges from bankruptcy later this month into an uncertain environment for gun makers.
The package replaces a similar credit facility the banks committed to providing Remington. Both were agreed in late March, before Bank of America, the second-largest U.S. bank by assets, changed its policy to stop financing companies that make military-style guns for civilian use.
Anne Finucane, Bank of America’s vice chair, said in April that the bank had decided on its pledge to help reduce mass shootings, saying in an interview with Bloomberg TV that “it is not our intent to underwrite or finance military-style firearms on a go-forward basis.”
[ … ]
But withdrawing from the deal would hurt the bank’s reputation for standing by its lending agreements and could undermine Remington’s survival, according to one person familiar with the bank’s thinking.
Surely BoA knew about this loan package before it’s stupid announcement on other firearms manufacturers.
That means one of two things. Either BoA is full of liars and crooks who were only trying to make an appearance of cooperating with the gun controllers, or Remington has been strong armed and is preparing to jettison its Bushmaster line of guns.
If the first is true, it doesn’t mean BoA will lend in the future to firearms manufacturers. It just means that they are liars. If the second is true, this is the end for Remington. There will be no recovery. Tikka can easily supplant the Remington 700 because it’s a better gun.