Obama Goes After Banks Doing Business With Gun Manufacturers As Dems Go After Guns

By Susan Duclos

In an all out gun grabbing push by Barack Obama and Democratic politicians, the Second Amendment constitutional right to bear arms is at a greater risk now than it ever has ever been, from a government becoming more tyrannical each day.

The Obama administration and it's allies are forcing banks to try to squeeze gun manufacturers out of business.

Key quotes from the Washington Examiner:

McMillan has been manufacturing firearms since 1973 and specializes in sniper hardware. On Wednesday, the company informed Examiner that Bank of America will no longer allow the company to use its banking services "because [McMillan] is in the firearms business and supports the Second Amendment."

[...]

Since January, President Barack Obama and his administration has been quietly pressuring the nation's biggest banks to stop doing business with weapons manufacturers. Last month, CBS reported that Chicago mayor Rahm Emanuel, Obama's former White House chief of staff, is pressuring major financial institutions such as Bank of America and TD Bank to stop their financial backing of gun makers.

Vice President Joe Biden has also been quietly working behind the scenes to ensure that, when dealing with gun companies, financial institutions cancel lines of credit, financing for acquisitions, and financial advising.

The administration's efforts don't stop there. Since January, the Obama administration - led by Biden and Emanuel - has been secretly pressuring pension funds across the country to divest its investments in weapons-related companies. These federal and state retirement funds are a major source of capital for U.S. gun manufacturers.

Last month, Yahoo! reported that public pension funds in California, Illinois, New York, and Pennsylvania (all Democrat strongholds) have been selling off their investments in weapons-related businesses. These actions will lower these companies' valuations and put a financial squeeze on investors, management, and workers.


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McMillan isn't the only firearms manufacturer being targeted by Barack Obama. In his letter, Emanuel pressured TD Bank to withdraw its $60 million line of credit to Smith & Wesson which makes the AR-15 assault rifle. In a separate letter to Bank of America CEO Brian T. Moynihan, Emanuel wanted the bank to cancel its $25 million line of credit extended to Sturm, Ruger & Co.

Given B of A's recent actions against McMillan, major financial institutions are caving in to Obama's demands. Bank of America received $45 billion in taxpayer-funded bailout funds from the federal government since the 2008 financial crisis. TD Bank got $347 million.

Not only is this push an attempt at gun control, but at a time when unemployment is still at economy damaging high levels, trying to put gun companies out of businesses, it is another job killing policy which will make the unemployment problem worse, not better.

From New York's new gun control laws, to proposals from Democrats in California to Missouri to New Jersey, this is all a coordinated effort by Obama and Democrats to either confiscate guns or limit the ability to buy them.

The latest attack against the Second Amendment comes from Missouri, via Gateway Pundit and Dana Loesch Radio:


Here’s part of the Democratic proposal in Missouri:

4. Any person who, prior to the effective date of this law, was legally in possession of an assault weapon or large capacity magazine shall have ninety days from such effective date to do any of the following without being subject to prosecution:

(1) Remove the assault weapon or large capacity magazine from the state of Missouri;
(2) Render the assault weapon permanently inoperable; or

(3) Surrender the assault weapon or large capacity magazine to the appropriate law enforcement agency for destruction, subject to specific agency regulations.

5. Unlawful manufacture, import, possession, purchase, sale, or transfer of an assault weapon or a large capacity magazine is a class C felony.

 New Jersey, via Ammoland:

After a chaotic and disorganized 7-hour hearing of the Assembly Law & Public Safety Committee on February 13, Democratic committee members rammed through an anti-gun package of more than 20 bills, including a 10-round magazine limit, a .50 caliber ban, and a massive new ammunition regulation scheme.

 Is it any wonder why the executive vice president of the National Rifle Association, Wayne LaPierre, is taking to the national stage to encourage every Second Amendment supporter to "Stand and Fight?"

LaPierre's piece should be read in it's entirety.

Below are excerpts showing what the NRA is going to do to lead this fight against those that are attempting to infringe on our Second Amendment constitutional right to bear arms which, as stated in the Second Amendment is" necessary to the security of a free state."

To preserve the inalienable, individual human right to keep and bear arms—to withstand the siege that is coming—the NRA is building a four-year communications and resistance movement. The enemies of the Second Amendment will be met with unprecedented defiance, commitment and determination. We will Stand And Fight.

First, we are going to devise legal capability like never before. I fervently hope that President Obama does not get to appoint another anti-gun Supreme Court justice like Sonia Sotomayor or Elena Kagan. But he probably will, and we must meet that challenge. His chances of appointing a replacement for one of the five pro-rights justices in the 5-4 Heller and McDonald majorities are high. And there’s no doubt he is going to appoint a huge number of new judges to lifetime positions in the lower federal courts.

That means the federal courts are going to get worse and worse. So some cases, on which we might have improved our chances of victory by waiting a while, are going to have to be brought now.

Besides bringing affirmative pro-rights cases, we will also have to litigate against the flood of new anti-gun federal regulations that are coming, and against anti-gun laws that are going to be enacted in some of the states.

Second, we must strengthen the NRA like never before. We are, and always have been, a genuine grassroots organization. And never has your membership been more important. Never has the nra been more in need of your support.

The national media, with its  slanted and inaccurate “news” coverage of the gun issue, has given the gun-ban groups the equivalent of hundreds of millions of dollars of free advertising.

Now, the threat is even greater. Michael Bloomberg and George Soros are each, individually, far wealthier than the entire National Rifle Association. When the NRA spends money on political advertising, we have to raise those funds from you—$20, $50, $250, or $1,000 at a time.  In the last election, Bloomberg alone spent $16 million and that doesn’t even count the indirect spending by groups funded by Soros and his fellow billionaires.

The hard truth is that due to Bloomberg, Soros, and the rest of their ilk, the dangers require that we increase our presence all across the country—in Congress, the state capitols, and in your city and towns.

As we Stand And Fight, the third, and most important, part of our action plan demands that we  organize like never before. That’s the most important part of all.

Every gun owner should be an active member of the NRA. Every gun owner should be sure that every member of his or her family is an active member.

 From one end of the country to the other, Barack Obama and Democrats are attempting to strip away the rights of Americans guaranteed to them by the Constitution of the United States of America.

 Wayne LaPierre is right, Americans must Stand and Fight.

(H/T Thomas SFL ‏@thomassfl)