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Thread: Banks not loaning money to gun dealers

  1. #1
    Regular Member conandan's Avatar
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    Banks not loaning money to gun dealers

    With all the talk in the news about financial institutions not wanting to make loans to gun business. I am wondering if it is a good thing so to speak.
    In the short term it will hurt, but in the long term wouldn't it seem that it can make these businesses free from the big bank bs. They can be free of dealing with these banks that hold to much power over there business.

    Or am I looking at this the wrong way.

  2. #2
    Regular Member Gil223's Avatar
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    Quote Originally Posted by conandan View Post
    With all the talk in the news about financial institutions not wanting to make loans to gun business. I am wondering if it is a good thing so to speak.
    In the short term it will hurt, but in the long term wouldn't it seem that it can make these businesses free from the big bank bs. They can be free of dealing with these banks that hold to much power over there business.

    Or am I looking at this the wrong way.
    The problem, as I've seen it publicized, is not with the "gun dealers", per se. The only media information I have seen was a problem with one manufacturer (McMillan), and one bank (BoA). BoA told McMillan that they would have to take their business elsewhere, after handling their business accounts for years.

    Generally speaking, big businesses often prefer to operate on someone else's money, which permits them to satisfy stockholders. If all their money is tied up in operating capital, the stockholder's will become unhappy, and find a different investment which pays dividends. When you're talking accounts with millions of dollars in them, the customer doesn't much in the way of "big bank bs" - you get big bank butt-kissing. The costs of facility construction and equipment purchases are a tremendous drain on a company's cash, so they use the bank's money. The bank only has any leverage over the company if the company is in arrears or defaults. Pax...
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    Regular Member Redbaron007's Avatar
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    Quote Originally Posted by Gil223 View Post
    The problem, as I've seen it publicized, is not with the "gun dealers", per se. The only media information I have seen was a problem with one manufacturer (McMillan), and one bank (BoA). BoA told McMillan that they would have to take their business elsewhere, after handling their business accounts for years.

    Generally speaking, big businesses often prefer to operate on someone else's money, which permits them to satisfy stockholders. If all their money is tied up in operating capital, the stockholder's will become unhappy, and find a different investment which pays dividends. When you're talking accounts with millions of dollars in them, the customer doesn't much in the way of "big bank bs" - you get big bank butt-kissing. The costs of facility construction and equipment purchases are a tremendous drain on a company's cash, so they use the bank's money. The bank only has any leverage over the company if the company is in arrears or defaults. Pax...
    Generally, pretty much spot on.

    Unfortunately, we don't know the whole story behind BoA and McMillan...all we know is what McMillan says...BoA can't disclose internal info about the account to the public....called a privacy policy. I'm willing to bet there is more to the story.
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    Quote Originally Posted by Ca Patriot View Post
    isnt GE credit not loaning to gun people ?
    Yes. There is a very current thread on that.

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    hmmm buy a couple of shares and go to a share holder meeting?

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    Have you done that, or is this more Internet bluster?

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    Regular Member Redbaron007's Avatar
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    Quote Originally Posted by eye95 View Post
    Have you done that, or is this more Internet bluster?
    It's theoretical...I've 'heard' the stories of it happening, but never have known anyone to do it. I don't attend the meetings of any companies I own stock in; haven't really thought about it.

    I believe any stockholder can attend the meeting; if they haven't proxy their vote, they should be able to vote. However, the companies can set some guidelines....one would have to check with the company to see what are the requirements.
    "I can live for two weeks on a good compliment."
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    Banks not loaning money to gun dealers

    I am sure it is bluster. He constantly posts this "advice," but never relates having followed his own advice or the results thereof.


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    Regular Member Freedom1Man's Avatar
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    Since banks are the backers of those who want to disarm us, it would only make sense that the banks are starting to not lend money to those who manufacture and/or sell firearms to citizens.

    We shall see how things play out in the end.
    Provision for free medical attendance and nursing, for clothing, for food, for housing, for the education of children, and a hundred other matters, might with equal propriety be proposed as tending to relieve the employee of mental strain and worry. --- These matters obviously lie outside the orbit of congressional power. (Railroad Retirement Board v Alton Railroad)

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