Bank of America goes full on fascist

[GURPS]

And that's why I absolutely agree with Vrai: it's chilling.

Started with Obama's Program 'Broken Trust' that targeted business choking off banking for Gun Dealers, Ancillary Market for Guns and Firearms Manufacturers IIRC

all in the guise of reducing financial fraud, Ponzi schemes, Porn Shops, drug paraphernalia .... but targeted payment processors like Pay Pal and Credit Card Companies


https://www.thenewamerican.com/usne...ation-choking-off-bank-lending-to-gun-dealers

In 2012, Bank of America terminated its 12-year relationship with McMillan Group International, a gun manufacturer in Phoenix, and American Spirit Arms in Scottsdale. Said Joe Sirochman, owner of American Spirit Arms:

At first, it was the bigger guys — gun parts manufacturers or high-profile retailers. Now the smaller mom-and-pop shops are being choked out....​

​

They need their cash [and credit lines] to buy inventory. Freezing their assets will put them out of business.​

That’s the whole point, according to Kelly McMillan:

This is an attempt by the federal government to keep people from buying guns and a way for them to combat the Second Amendment rights we have. It’s a covert way for them to control our right to manufacture guns and individuals to buy guns.​

With the Obama administration unable to foist its gun control agenda onto American citizens frontally, this is a backdoor approach that threatens the very oxygen these businesses need to breathe. Richard Riese, a senior VP at the American Bankers Association, expanded on the attack through the banks’ back doors:

 

[Yooper]

...smaller mom-and-pop shops are being choked out....
...

That’s the whole point, according to Kelly McMillan...

...this is a backdoor approach that threatens the very oxygen these businesses need to breathe.

Exactly.

--- End of line (MCP)

 

[GURPS]

Leftists Hound Mastercard, Demanding It Put Conservative 'Hate Groups Out of Business'

On Tuesday, leftist activists targeted Mastercard's shareholder meeting, demanding the Board of Directors adopt a "human rights committee" dedicated to blacklisting organizations unfairly accused of being "hate groups" by the Southern Poverty Law Center (SPLC). Activists with the group SumOfUs pestered the board with spurious questions about "doing business with criminals" in pursuit of its "blood money" campaign.

Nandini Jammi, a representative of the leftist group SumOfUs, demanded the shareholders and board members support proposal five, "which asks the board of directors to create a human rights committee at the board level. At least 2,300 people have written to their pensions and mutual funds in support of this proposal, and 127,000 people have signed a petition calling on Mastercard to stop processing payments for far-right hate groups."

"I’m here to inform you that you have lost control of your financial network. Thanks to your financial partners, you are open for business with criminals," Jammi declared.

 

[awpitt]

When one of our major banks refuses to do business for political reasons....

Chilling.

But it's okay for a bakery to refuse to make a wedding cake for a same sex couple.

Chilling.

 

[Kyle]

But it's okay for a bakery to refuse to make a wedding cake for a same sex couple.

Chilling.

So to clarify... you believe the Baker should have surrendered his religious beliefs and submitted but when BOA refuses certain customers it's OK?

 

[Chris0nllyn]

WRT this BOA announcement, I agree with the libertarian position (i.e., BOA is more or less free to do whatever it wants to do). But libertarians (at a minimum) also should be looking at the bigger picture.

And that's why I absolutely agree with Vrai: it's chilling.

If one doesn't see/understand why what BOA is doing here is a problem in the larger scheme of things, then one's eyes/brain aren't/isn't working.

Or one is simply a totalitarian.

No, it's not "chilling" and it's certainly not "fascist" (unless you don't know what that word means).

The libertarian position is that any business should be free to hire/fire whom they want. They should do business with whomever they want for whatever reason. There is no bigger picture. A private business made a decision. Plain and simple.

I really don't know what else there could possibly be to make a conservative think a business should not be able to do what BOA did here.

 

[awpitt]

So to clarify... you believe the Baker should have surrendered his religious beliefs and submitted but when BOA refuses certain customers it's OK?

No.

If the belief is that businesses should be allowed to choose who they will do business with, that's fine but that rule should be for all or none. Can't have it both ways.

 

[Kyle]

No.

If the belief is that businesses should be allowed to choose who they will do business with, that's fine but that rule should be for all or none. Can't have it both ways.

Sounds to me like lefties want it both ways.

 

[awpitt]

Sounds to me like lefties want it both ways.

Well, I can't speak for the lefties. Just for myself. It seems lefties and righties want it both ways. Some have a problem with the bakery while praising BoA. Others have a problem with BoA while praising the bakery. There's hypocrisy coming from both sets of extremists.

 

[Gilligan]

Well, I can't speak for the lefties. Just for myself. It seems lefties and righties want it both ways. Some have a problem with the bakery while praising BoA. Others have a problem with BoA while praising the bakery. There's hypocrisy coming from both sets of extremists.

I think BoA should be forced to buy cakes from a transgender midget baker for the NAMBLA folks to pass out when they have their next public event for kids at the library.

But that's just me.

 

[vraiblonde]

But it's okay for a bakery to refuse to make a wedding cake for a same sex couple.

Chilling.

Not even remotely the same thing. There are zillions of private bakeries that will happily make cakes for gay/trans occasions. Banks, on the other hand, are not small private businesses. In fact they are very close to being government institutions - if the bakery fails, it will not be bailed out with our tax dollars; the bank, however....

You can't make the connection between a small local bakery and the freaking global behemoth Bank of America. I'm not even sure why you'd try.

 

[Chris0nllyn]

Not even remotely the same thing. There are zillions of private bakeries that will happily make cakes for gay/trans occasions. Banks, on the other hand, are not small private businesses. In fact they are very close to being government institutions - if the bakery fails, it will not be bailed out with our tax dollars; the bank, however....

There are 4,652 commercial banks in the US.

Of course, you think the comparison is bank vs. bakery, when the real comparison is the action itself.

 

[Gilligan]

BoA's freedom to pull any bone-headed virtue stunt they want to aside, it can be a major PITA and expense for a business to suddenly have to move all of their financial business activities from one bank to another.

 

[Midnightrider]

BoA sucks for a bunch of reasons, but as chris said, they aren't fascist unless you don't know the meaning of the word.

your hypocrisy is showing again

 

[vraiblonde]

BoA's freedom to pull any bone-headed virtue stunt they want to aside, it can be a major PITA and expense for a business to suddenly have to move all of their financial business activities from one bank to another.

And when your financial institution can pull the rug out from under you at any time simply because they don't like your politics, that's a problem. Having to find a different bakery is merely a slight inconvenience; having to change your checking/savings, credit card, line of credit, and retirement accounts is a bit more involved. Not to mention if they hold the mortgage on your house.

"Vote Democrat or we will foreclose on your home."

"Vote Democrat or we will foreclose on your business."

Anyone who thinks that's okay is a fascist, end of story.

 

[GURPS]

Just wait until Facebook has its own virtual signaling currency Libre

 

[Chris0nllyn]

And when your financial institution can pull the rug out from under you at any time simply because they don't like your politics, that's a problem.

That's freedom! Good lord.

 

[Gilligan]

That's freedom! Good lord.

Rockin'. Cant' wait for our bank to decide they don't like the business we're in and we get to transfer all our accounts, re-link all our e-pay and CC accounts, and port our entire payroll...update all our credit accounts..notify our clients that pay by wire...etc etc...

Cost of freedom and all... We'll deal with it.

 

[Chris0nllyn]

Rockin'. Cant' wait for our bank to decide they don't like the business we're in and we get to transfer all our accounts, re-link all our e-pay and CC accounts, and port our entire payroll...update all our credit accounts..notify our clients that pay by wire...etc etc...

Cost of freedom and all... We'll deal with it.

Good for you for being a grown up.

 

[Gilligan]

Good for you for being a grown up.

..out of the mouths of babes...babes that have never owned and operated their own business.