As gun control advocates cheered GE Captial’s decision to cease business with gun stores, President Obama’s economic war on the gun industry came into full view.
While Sen. Dianne Feinstein (D-CA) supports legislation to dry up the supply of firearms in this country, Obama and company are working behind the scenes to dry up the capital needed to make firearms and operate firearms related businesses.
We began seeing this in January when Obama’s right hand man, Chicago Mayor Rahm Emanuel, began pressuring Bank of America (BA) and TD Bank to quit doing business with gun manufacturers.
Band of America was so eager to comply that they froze the account of Arizona AR-15 manufacturer Spirit Arms before Emanuel even put his request in writing.
Bank of America defended their action by pointing out that Spirit Arms allows customers to order guns over the internet without conducting a background check. BA missed the fact that the guns are not shipped to the customers directly but to a FFL near the customer, where a background check on the buyer is performed before the gun is handed to him or her.
Although BA was eventually shamed into reversing course, the impetus for their action was clear. Now that GE Capital has followed suit, gun control advocates are cheering their victory.
But other businesses are feeling the pressure as Obama, Democrats, and gun-control advocates attempt to turn Smith & Wesson and Glock into the equivalent of Marlboro or Winston cigarette manufacturers. Comcast Cable, for example, announced a ban on all firearm and ammunition advertisers in March.