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Emanuel To Banks: Stop Supporting Gun Makers

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posted on Jan, 25 2013 @ 02:44 PM

CHICAGO (CBS) — Chicago Mayor Rahm Emanuel is putting more pressure on gun makers to get behind his push for an assault weapons ban and criminal background checks for gun purchasers. This time, he wants to go after their bottom line. Emanuel is pushing two major financial institutions to stop their financial backing of gun makers, unless those companies support “commonsense reforms, including requiring criminal background checks on all gun sales.” The mayor is urging that banks to stop lines of credit, financing for acquisitions and expansions and financial advising.

In a letter sent Friday to the CEOs of Bank Of America and TD Bank, Emanuel said: “In the past, the gun industry has stood in opposition to these safety measures. They opposed a ban on assault weapons on America’s streets, opposed a ban on military-style clips, opposed a criminal background check on all gun purchases and opposed any effort to crack down on criminal gun traffickers.” In the letter, Emanuel says TD Bank offers a $60 million line of credit to Smith & Wesson, which produces the AR-15. That is the weapon used by James Holmes in the Aurora, Colo., theater massacre that killed 12 people. Emanuel wrote. Emanuel told CEO Bharat Masrani “to use your influence to push this company to find common ground” on an assault weapons ban and gun background checks.

In a separate letter, Emanuel urged Bank Of America CEO Brian T. Moynihan to do the same thing with Sturm, Ruger & Co., which has a $25 million line of credit with the bank. “Collectively we can send a clear and unambiguous message to the entire gun industry that investors will no longer financially support companies that support gun violence,” Emanuel wrote. Last week, Emanuel ordered a portfolio analysis from the five pension and retirement funds for Chicago employees to determine if fund managers hold financial interests in companies that manufacture or sell assault weapons. This week, the Chicago Municipal Employees Annuity and Benefit Fund (MEABF) board voted to divest more than $1 million from three companies that manufacture assault weapons – Freedom Group, Smith and Wesson and Sturm Ruger.

It looks like "The Godfather" Rham Emanuel is trying to convince banks to stop supporting the gun industry. So far he has urged Bank of America and TD Bank to stop giving gun manufactures line of credit. This might also target the individual consumers also. And with BoA record, I don't see that going over too well with investors.

These are some dirty under handed tricks used by the politicians to try and shut down gun production. But, it doesn't matter, hopefully Bank of America and TD Bank will start losing investors if they decide to start cutting gun maker's line of credit. Not like these banks are really here to help the people anyway. I'm sure there are many other banks that wouldn't mind funding these manufactures, and others associated with the gun industry.

Do you believe that they can stop the flow of arms just by convincing a couple banks to drop a few lines of credit? I think not.

edit on 1/25/2013 by eXia7 because: (no reason given)

posted on Jan, 25 2013 @ 02:46 PM
reply to post by eXia7

illinois politicians at their finest....what a piece of #

posted on Jan, 25 2013 @ 02:49 PM
If these Traitors would spend even a fraction of their sly and clever efforts of Treasonous activity, towards trying to come up with the REAL solution to stopping these mass shootings, just imagine how safe our children's schools would be?

The agenda of the Gun Grabber Traitors is clear. And make no mistake about it, it has nothing to do with "protecting" our children or "saving" lives.

[color=skyblue]“A free people ought not only to be armed and disciplined, but they should have sufficient arms and ammunition to maintain a status of independence from any who might attempt to abuse them, which would include their own government.”
~~George Washington

edit on 25-1-2013 by ResistTreason because: (no reason given)

posted on Jan, 25 2013 @ 02:54 PM
reply to post by eXia7

So says the man who presides over the city with both the strictest firearm restrictions and bans in the nation and one of the highest murder and crime rates in the nation.
The time has come for America to demand that Chicago stop electing horse's asses or form their own nation, far apart from our own.

posted on Jan, 25 2013 @ 02:55 PM
Hmm, it looks like somebody beat me to this story by a few minutes, I searched but it didn't come up.

Although this is in a different forum, close it if need be.

posted on Jan, 25 2013 @ 08:30 PM
Posted earlier here:

Please add further comments to the ongoing discussion in the above linked thread.

**Thread Closed**

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