{"id":132781,"date":"2020-08-19T11:24:26","date_gmt":"2020-08-19T15:24:26","guid":{"rendered":"https:\/\/www.gunsamerica.com\/digest\/?p=132781"},"modified":"2020-08-19T11:24:26","modified_gmt":"2023-08-30T19:43:09","slug":"election-fundraiser-raises-eyebrows-for-hypocrisy","status":"publish","type":"post","link":"https:\/\/gunsamerica.com\/digest\/election-fundraiser-raises-eyebrows-for-hypocrisy\/","title":{"rendered":"Election Fundraiser Raises Eyebrows for Hypocrisy"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"621\" title=\"Election Fundraiser Raises Eyebrows for Hypocrisy\" src=\"https:\/\/www.gunsamerica.com\/digest\/wp-content\/uploads\/2018\/05\/Porter_Ranch_Bank_of_America.jpg\" alt=\"Election Fundraiser Raises Eyebrows for Hypocrisy\" class=\"wp-image-91559\" srcset=\"https:\/\/gunsamerica.com\/digest\/wp-content\/uploads\/2018\/05\/Porter_Ranch_Bank_of_America.jpg 1000w, https:\/\/gunsamerica.com\/digest\/wp-content\/uploads\/2018\/05\/Porter_Ranch_Bank_of_America-150x93.jpg 150w, https:\/\/gunsamerica.com\/digest\/wp-content\/uploads\/2018\/05\/Porter_Ranch_Bank_of_America-400x248.jpg 400w, https:\/\/gunsamerica.com\/digest\/wp-content\/uploads\/2018\/05\/Porter_Ranch_Bank_of_America-768x477.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption>(<em>Photo: Wikipedia<\/em>)<\/figcaption><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>By Larry Keane<\/strong><\/p>\n\n\n\n<p>Any other year, taking money from an industry that\u2019s conducting barred activity would be called corruption. Not election years, though, and not when it comes to banks and guns.<\/p>\n\n\n\n<p>Congressional Democrats are holding a fundraiser Aug. 24 for Democratic nominee Joe Biden headlined, \u201cVirtual Conversation on the Future of Antitrust,\u201d according to Politico. The event will be hosted by U.S. Sen. Amy Klobuchar (D-Minn.) and U.S. Rep. David Cicilline (D-R.I.) and is being feted as \u201ca chance to talk about technology and antitrust with Sen. Klobuchar,\u201d in the invitation.<\/p>\n\n\n\n<p>Sen. Klobuchar is the ranking member of the Senate Judiciary Committee\u2019s antitrust subcommittee and Rep. Cicilline chairs of the House Judiciary Committee\u2019s antitrust subcommittee. That raised eyebrows with Politico. Both have taken a \u201cget tough\u201d approach with tech and social media giants, but it seems they\u2019re taking the edge off that approach.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Change Name, Focus<\/h4>\n\n\n\n<p>Since Rep. Ciciline joined the slate, the fundraiser went from being a \u201cVirtual Conversation on the Future of Antitrust,\u201d to just being a \u201cVirtual Conversation,\u201d where a modest $10,000 donation buys a spot as a \u201cchair\u201d of the fundraiser and even a paltry $250 get the \u201csupporters\u201d cheap seat. That\u2019s peculiar because those donating to this fundraiser seem to have an interest in keeping the government oversight out of their books and not looking at antitrust activity.<\/p>\n\n\n\n<p>Politico\u2019s Zachary Warmbrodt&nbsp;<strong><a href=\"https:\/\/www.politico.com\/news\/2020\/08\/11\/bankers-back-biden-trump-393297\" target=\"_blank\" class=\"clickTracking\" campaign=\"election-fundraiser-raises-eyebrows-for-hypocrisy\" title=\"Election Fundraiser Raises Eyebrows for Hypocrisy\">wrote<\/a>:<\/strong><\/p>\n\n\n\n<p><em>Contributions from individuals affiliated with the six largest lenders total $907,216 for Biden and $293,434 for Trump, according to a POLITICO review of campaign finance data. Biden has a significant fundraising advantage at every one of the banks \u2014 JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs and Morgan Stanley.<\/em><\/p>\n\n\n\n<p>Warmbrodt suggests the banks are betting Biden\u2019s better for the country, even if his policies are worse for the banks. Here\u2019s why the firearm industry finds this peculiar. Democrats are happy to outsource their failed and rebuked&nbsp;<a href=\"https:\/\/www3.nssf.org\/share\/factsheets\/PDF\/OperationChokePoint.pdf\" target=\"_blank\" class=\"clickTracking\" campaign=\"election-fundraiser-raises-eyebrows-for-hypocrisy\" title=\"Election Fundraiser Raises Eyebrows for Hypocrisy\"><strong>Operation Choke Point<\/strong><\/a>&nbsp;scandal that sought to discriminate against members of the firearm industry under the direction of the Obama Administration Department of Justice.<\/p>\n\n\n\n<p>Instead, antigun politicians like Sen. Klobuchar and Congressman Cicilline are happy to farm out the political dirty work to banks to enact their own discriminatory policies to deny the industry access to financial services.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">SEE ALSO: <a href=\"https:\/\/www.gunsamerica.com\/nj-gov-gun-makers-banks-gun-control\/\" target=\"_blank\" class=\"clickTracking\" campaign=\"election-fundraiser-raises-eyebrows-for-hypocrisy\" title=\"Election Fundraiser Raises Eyebrows for Hypocrisy\">NJ Gov. Vows to Stop Business with Gun Makers, Banks That Won\u2019t Embrace Gun Control<\/a><\/h2>\n\n\n\n<p>The fundraiser went from being a discussion of antitrust to just a discussion when the banks got involved. At the same time, two of the supposed most-strident antitrust politicians are suddenly mum on banks especially when Citigroup, Bank of America and other banks all adopt similar policies to box out an entire industry from accessing financial services. Wells Fargo is&nbsp;<strong><a href=\"https:\/\/www.foxnews.com\/us\/us-banks-financial-institutions-severing-ties-gun-industry\" target=\"_blank\" class=\"clickTracking\" campaign=\"election-fundraiser-raises-eyebrows-for-hypocrisy\" title=\"Election Fundraiser Raises Eyebrows for Hypocrisy\">reportedly<\/a><\/strong>&nbsp;severing ties with those in the firearm industry.<\/p>\n\n\n\n<p>They\u2019re denying access to loans and services simply because these businesses make firearms that law-abiding Americans want to purchase for lawful purposes. Faceless corporate executives are wielding their boardroom authority to unlawfully discriminate against the firearm industry. What\u2019s more, they\u2019re doing it even after they\u2019ve gladly accepted taxpayer bailouts when these banks were \u201ctoo big to fail\u201d and use taxpayer money and taxpayer-funded resources even today to insure their holdings and operate their businesses.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Pull Punches<\/h4>\n\n\n\n<p>This is why the fundraiser is raising a collective eyebrow. Two politicians who are vocal on antitrust issues are suddenly silent on banking antitrust activity when it suits their political agenda and that of their preferred presidential candidate. They don\u2019t want to take jabs or expose the convenient truth that banks are doing the bidding of an antigun agenda that was found to be illegal when it was proffered by the Obama administration.<\/p>\n\n\n\n<p>The same Operation Choke Point discrimination is happening, only now it\u2019s being carried out under the guise of \u201creputational risk,\u201d even though this is an industry that contributed $6.75 billion in taxes last year. Those taxes, along with the taxes of more than 100 million gun owners, insures these banks and allows them to stay in business, under a federal charter.<\/p>\n\n\n\n<p>To make it clear enough that no one feels they\u2019re reading the fine print of a mortgage agreement, this is what\u2019s happening. Banks are donating big money to an antigun presidential candidate. Politicians who are supposed to be their watchdogs have no issue with them carrying out unlawful antitrust activities because it suits their antigun political agenda, so they won\u2019t talk about it. After all, banks are doing exactly what the Obama administration\u2019s Department of Justice did and was slapped for it by Congress. So, they\u2019ll remain quiet, let them discriminate and collect the check.<\/p>\n\n\n\n<p>In any other arena, this is called corruption and hypocrisy. In elections, this is called politics.<\/p>\n\n\n\n<p><strong>Larry Keane&nbsp;<\/strong><em>is Senior Vice President of Government and Public Affairs and General Counsel for the&nbsp;<a href=\"https:\/\/www.nssf.org\/\" target=\"_blank\" class=\"clickTracking\" campaign=\"election-fundraiser-raises-eyebrows-for-hypocrisy\" title=\"Election Fundraiser Raises Eyebrows for Hypocrisy\">National Shooting Sports Foundation<\/a>, the firearms industry trade association.<\/em><\/p>\n\n\n\n<h2 class=\"has-text-align-center wp-block-heading\">***<a href=\"https:\/\/gunsamerica.com\/\" campaign=\"BuySellGA_Register\" target=\"_blank\" class=\"clickTracking\">Buy and Sell on GunsAmerica!<\/a>***<\/h2>\n","protected":false},"excerpt":{"rendered":"<p>Any other year, taking money from an industry that\u2019s conducting barred activity would be called corruption. Not election years, though, and not when it comes to banks and guns.<\/p>\n","protected":false},"author":115,"featured_media":91559,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_specdata_upc":"","_specdata_placement":"","footnotes":""},"categories":[111,240,1],"tags":[132,1802,311],"featured":[],"hunt365":[],"class_list":{"0":"post-132781","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-industry-news","8":"category-this-week","9":"category-uncategorized","10":"tag-buzz","11":"tag-news-wire","12":"tag-nssf"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Election Fundraiser Raises Eyebrows for Hypocrisy<\/title>\n<meta name=\"description\" content=\"Any other year, taking money from an industry that\u2019s conducting barred activity would be called corruption. 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