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Thread: obama Armtwisting the banks

  1. #1
    Gunco Member Jay Byrd's Avatar
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    Gunco Good ole boy tanvil's Avatar
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    This is another phase of a VERY well planned operation..

    Sounds like it's time to boycott a few more banks.



    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.
    Click here to find out more!

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    White Cracker 4thIDvet's Avatar
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    No friggen problema.. BOA becomes anti, we become anti BOA..
    Who the hell is TD, F@#K them too.
    Nappy Head the man boy homo is doing exactly what I posted.. They know they can not come out and collect 500 million guns. So their going for the wallet.
    Well it works two ways.. Their has to be a hundred million gun owners in this country.
    I have been with BOA for 30 years. Hell I will pull out of their like a raped ape.
    All the forums should start a sticky of the anti companies. They want to play hard ball, let the friggen games begin.
    Better yet. Use another bank and leave $1.00 in the anti bank.. Know what it costs them to carry that $1.00 every month.
    "Man needs but two things to survive alone in the woods. A blow up female doll and his trusty old AK-47" - Thomas Jefferson 1781


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    Gunco Addicted for life j427x's Avatar
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    hell the NRA needs to start its own bank!

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    Gunco Good ole boy tanvil's Avatar
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    It's shame that we don't have a legitimate government or court system because if we did,
    I'd bet this would be a conviction on racketeering.

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    Gunco Member Jay Byrd's Avatar
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    Gunco Good ole boy tanvil's Avatar
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    Rahm Emanuel Sends Letters to Mutual Funds Urging Them to Blacklist Gun Manufacturers That Oppose Gun Safety Laws

    Below is a statement from the office of Chicago Mayor Rahm Emanuel who sent letters to a number of mutual funds urging them to blacklist gun manufacturers who don’t support reform to gun laws.

    Mayor Rahm Emanuel today announced that he is asking several mutual funds to divest and blacklist any gun manufacturers that oppose commonsense gun reforms. The Mayor’s letters sent to the mutual funds today come on the heels of his request last week to commercial banks asking them to stop providing financial services to gun companies that stand in the way of reform.

    “Just like the banks and pension funds, I believe that these Mutual Funds can exert an enormous amount of influence by taking a stand against gun manufacturers that continue to refuse to support commonsense reforms like required background checks and an assault weapons ban. The time is now for everyone to do anything they can to stop these military-style guns and magazines from ending up on the street and putting families, children and police officers at risk,” said Mayor Emanuel. “This has to be about doing what is morally right and not what is financially beneficial to their bottom lines.”

    Mayor Emanuel is sending a letter today to the chief executives of Allianz, BlackRock, Dimensional Fund Advisors, Vanguard, James Investment Research and Capital World Investments. All of the funds own stock of gun manufacturers who are actively lobbying against safety reforms. The mayor is asking the mutual funds to divest from these companies until they support these reforms.

    The Mayor’s latest request complements other actions he has recently taken, including encouraging city leaders from the across country to divest from companies that manufacture or sell assault weapons. Mayor Emanuel has also introduced an ordinance to strengthen Chicago’s gun laws and is supporting state and federal safety legislation.

    Earlier this month, Mayor Emanuel ordered a portfolio analysis from the five pension and retirement funds for Chicago employees to determine if fund managers hold underlying debt or equity positions in companies that manufacture or sell assault weapons as the first step towards removing these companies from the investment plans. 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. Other cities, including Los Angeles and Philadelphia have followed suit.

    The Mayor called on Chicago’s sister agencies – the Chicago Transit Authority, Chicago Housing Authority, Chicago Park District – to conduct the same review. The Chicago Teachers Pension Fund (CTPF), which has $9.5 billion in assets, already voted to divest its investments with gun manufacturing companies.

    READ EMANUEL’S LETTER TO BRIAN GAFFNEY OF ALLIANZ ASSET MANAGEMENT BELOW:

    Rahm Emanuel Letter to Brian Gaffney of Allianz Asset Management by

  8. #8
    Gunco Good ole boy tanvil's Avatar
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    ...
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    Always sore, always tired Bradrock's Avatar
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    Thug politics. Al Capone would still feel right at home.
    " Save a tree...........Eat A Beaver!"

  10. #10
    Gunco Member Will Wayde's Avatar
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    Quote Originally Posted by j427x View Post
    hell the NRA needs to start its own bank!
    That could be done, and is an excellent idea.

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