Godfather Tells Big Banks To Stop Supporting Gun Makers…

(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.

FAX BLAST SPECIAL: Don’t Let The Government Take Your Guns! Protect Your Second Amendment Rights!

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.

http://chicago.cbslocal.com/2013/01/25/emanuel-to-banks-stop-supporting-gun-makers/

Communists cheer on Obama's gun grab
HOLDER MOVES ON GUNS...

Top Stories

Donald Trump: I Won’t Let Politicians Disarm the American Peopl... (Breitbart) - Republican presidential hopeful Donald Trump used Facebook to release a new ad yesterday warning that politicians are incrementally weak...
VICTORY: Federal Court SLAPS Down 3-Year Old Gun Control Law… N... (Baltimore Sun) - Federal appeals court dealt a potentially serious blow to Maryland's landmark 2013 gun control law and similar measures across the c...
Signs Posted at School: Staffers Carry Guns 'We don't want to be a soft target' (Muskogee Phoenix) - New signs posted on the grounds of Okay Public Schools announce an "Armed School Employees...
San Bernardino County Official: Arm County Employees 'Terror has arrived at our doorsteps, and we will and we can never be the same again' (Victorville Daily Press) - What does it take to stop a bad g...
House Republicans Go After Operation Choke Point (Daily Caller) - The House voted Thursday on legislation to make it more difficult for banking regulators to demand that banks shutdown certain busine...
January Gun Sales Set Yet Another Record Ninth monthly record in a row (Free Beacon) - The FBI conducted more gun-related background checks this January than in any other January since the...

Comments


Please help us stay spam-free. Mouse over a spam post and click the X to report spam.