Chicago Mayor Bullies up to the Banks
Rahm Emmanuel is an adherent of the Chicago way:
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.
How? Simple. He’s telling a couple of banks that they need to stop providing financial services (in the form of lines of credit) to two specific firearms manufacturers.
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.
What a maroon!
Both of the named manufacturers, in addition to providing arms to the civilian population regularly produce firearms for defense contracts. More importantly, however, firearms produced by these companies are on the approved list for Chicago PD personnel. Specifically, the Ruger LCP is included on the list of department approved auxiliary sub-compact pistols and several of Smith & Wesson’s M&P series pistols are included on the list of department approved semiautomatic pistols.
Mr. Emmanuel is within his rights as mayor to help determine who the Chicago will and will not do business with. But how many many members of the Chicago PD who are responsible for the good Mayor’s safety are at this very moment carrying guns from Ruger and Smith & Wesson?
Mr. Mayor, drop the hypocrisy and step away from the banks.