WHO’S YOUR BANKER ?

Bankers

We made it through another week and it’s now time to think about the weekend and spending time with friends and family. It’s also time for a shoot the shit and we certainly invite you to participate. Remember that participants don’t need to know anything about the topic, you can make any unsupported statement, use uncensored profanity, insult anyone you wish or change the subject. This is a pro bono service and we don’t even care if your in denial.

You may not be aware of this but Bank of America and CITI Group have openly indicated that they will terminate lending to firearm manufacturers who produce “military style” weapons for civilian use. Their position impacts leading manufacturers like Remington Outdoor Co., Sturm Ruger & Co., SIG Sauer, Vista Outdoor Inc., O.F. Mossberg & Sons and American Outdoor Brands Corp. We found this to be a remarkably uninformed position as many of these companies are leading law enforcement, federal agency and Department of Defense suppliers, and commercial sales are an integral part of their revenue streams. What these financial institutions want to do is force these companies to discontinue manufacturing and selling modern semiautomatic rifles.

The financial institutions involved have all been bailed out by the U.S. taxpayer, the very same taxpayers who are Remington’s et. al. customers. They’re not just denying taxpayers access to products they choose to purchase, they are  also denying licensed manufacturers  operating legally under state and federal law with financial services. Their action is discriminatory and should be challenged in court. Furthermore, state and local governments supportive of the Second Amendment and an industry that contributes $51 billion to the economy and employs 300K+ individuals should look to other institutions for their financial services.

David Hogg, the Parkland student activist, is a well meaning adolescent but completely uninformed and ill-equipped to make a coherent argument. David Hogg’s position is that the NRA is evil and stopping the sale of semiautomatic rifles will stop mass killings.  Someone needs to tell David that the NRA is an association representing members and no different than the AMA representing member doctors or ABA representing attorneys. David should also understand that NRA members have kids in school and they too want to see their children safe. Sadly, David Hogg has become a Muppet for the antigun movement.  So be it!

Any mass killing is a national tragedy but attacking a firearm type particularly a long gun is unsupported by the facts. The FBI’s Expanded Homicide Data Table 4 provides some very important facts that will help you separate emotion from reality.

In 2016 there were 11,004 firearm related homicides in the United States; 374 of those were committed by rifles (all types), So rifles account for 0.034 of all firearm homicides. Sadly, mass shootings get all of the media attention and if it involves an AR15 you’re looking at weeks of coverage. Contrast the coverage given to the You Tube shootings, which involved a woman with a pistol. This emphasis is by design and ignores the principal driver of gun related homicides which is gang activity in the conduct of illegal drug business.

Everyone wants to see safe firearm ownership but there are better ways than denying financial services to reputable manufacturers operating legally and within the law.

We encourage readers to stay informed and engaged, it’s our industry and our Second Amendment. Have a great weekend, be safe and spend some quality time with your buds and family.

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