Chicago Mayor Rahm Emanuel, a member of Mayors Against Illegal Guns and the guy in charge of the gun controlled murder capitol of America, is planning to pressure banks into cutting off their business with firearms manufactures according to POLITICO:
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 theater 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.”
Emanuel sent a similarly worded letter to Bank of America CEO Brian Moynihan, a bank that does business with Sturm, Ruger & Co.
“Doing business with gun manufacturers might benefit the banks’ bottom line, but they put our police officers, our children and our communities at risk,” said the mayor.
This is astounding. Emanuel is using the power of his office with the backing of the White House agenda to not only bully private industries but to eventually kill them off. As Dianne Feinstein said yesterday, the goal is to "dry up the supply of these weapons over time."
But Emanuel's pressure is nothing new. We've already seen Bank of America drop gun manufacturers for political reasons and it's only going to get worse.
McMillan Group International, a company that manufactures firearms and accessories, is claiming that Bank of America asked them find another bank for “political” reasons.
The company, whose different entities have been doing business with Bank of America for more than twelve years, says it has never made a late payment, and never bounced a check.
If you have a Bank of America account, it might be time to think about changing.