Chicago’s mayor puts stiff arm on banks to cease doing business with Smith & Wesson and Sturm-Ruger, and for mutual funds to ‘blacklist’ gun manufacturers
Rahm Emanuel, Obama’s former Chief of Staff and now mayor of Chicago, is going berserk over gun control, exceeding even the efforts of NY Mayor Michael Bloomberg.
On Tuesday, Emanuel told the Bank of America and TD Bank that he wanted them to stop doing business with Smith & Wesson and Sturm-Ruger, gun makers that have been given lines of credit by the two banks. The next day he told several mutual funds that he wanted them to ‘blacklist’ gun manufacturers and to divest themselves of any shares of gun manufacturers they held in their portfolios. The mutual funds were Allianz, BlackRock, Dimensional Fund Advisors, Vanguard, James Investment Research and Capital World Investments.
Texas Senator Ted Cruz then sent letters to Smith & Wesson and Sturm-Ruger, telling them that "Should Emanuel's bullying campaign prove successful, I am confident that there are numerous financial institutions in Texas that would be eager to earn your business."
Cruz also sent letters to the two banks, telling them that “In light of the reception you have received in the Windy City, please know that Texas would certainly welcome more of your business and the jobs you create.”
I thought that Bloomberg was the nation’s top gun control freak, but the way that little pipsqueak Emanuel is acting, the NY mayor is coming in a distant second.
In the meantime, the assault on assault weapons is in full swing with emotional hearings before Congress, police chiefs piping in with their two-cents worth, and with family members of victims from the Sandy Hook massacre and other mass shootings popping up everywhere with their tearful demands that assault rifles be banned.
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