Banking, this could be a very big deal

[A.J. Holst]

https://www.ammoland.com/2018/10/fifth-third-bank-joins-war-against-guns/#axzz5TTF60pjM

5rh/3rd is now following Citi and BoA.

Big deal because after 2008, with intent to protect consumers, 70% of the baking held by the 7 major bankcorps, now it is only 5 holding that same 70%.

Regionals would be next, since the major bank is out of gun business, and the regional shareholders usually want to sell out to the big boys, they will get the gun biz off the books.

Pretty insidious way to attack the 2A, choke the financial services needed to run the wholesale/retail industry.

 

[bersaguy]

1 hour ago, Gotthegoods said:

https://www.ammoland.com/2018/10/fifth-third-bank-joins-war-against-guns/#axzz5TTF60pjM

5rh/3rd is now following Citi and BoA.

Big deal because after 2008, with intent to protect consumers, 70% of the baking held by the 7 major bankcorps, now it is only 5 holding that same 70%.

Regionals would be next, since the major bank is out of gun business, and the regional shareholders usually want to sell out to the big boys, they will get the gun biz off the books.

Pretty insidious way to attack the 2A, choke the financial services needed to run the wholesale/retail industry.

 

When I got ready to move from BOA I looked at 5th/3rd and spoke with them but they just didn't have that hometown bank feeling so went with Wilson Bank & Trust and love them folks. Oly been with them 1.5 months and about everyone in the branch knows my name and their is about 12 employees there and i have only been insde the branch about 5 times and the rest has been drive up teller.

[Raoul]

1 hour ago, Gotthegoods said:

https://www.ammoland.com/2018/10/fifth-third-bank-joins-war-against-guns/#axzz5TTF60pjM

5rh/3rd is now following Citi and BoA.

Big deal because after 2008, with intent to protect consumers, 70% of the baking held by the 7 major bankcorps, now it is only 5 holding that same 70%.

Regionals would be next, since the major bank is out of gun business, and the regional shareholders usually want to sell out to the big boys, they will get the gun biz off the books.

Pretty insidious way to attack the 2A, choke the financial services needed to run the wholesale/retail industry.

 

Not necessarily. There are lots of regional banks just as happy as pigs in #### that have no desire to sell to anyone. The one i bank with has been an indy for at least 20 years. 

[MacGyver]

12 minutes ago, Raoul said:

Not necessarily. There are lots of regional banks just as happy as pigs in #### that have no desire to sell to anyone. The one i bank with has been an indy for at least 20 years. 

Yep.  And if you want real service - an independent bank or credit union is your best bet.

They're really the only ones playing with their own money.

[Chucktshoes]

14 minutes ago, Raoul said:

Not necessarily. There are lots of regional banks just as happy as pigs in #### that have no desire to sell to anyone. The one i bank with has been an indy for at least 20 years. 

 

Just now, MacGyver said:

Yep.  And if you want real service - an independent bank or credit union is your best bet.

They're really the only ones playing with their own money.

I’m 100% in team credit union. The national banks can all kiss my ass. 

[Garufa]

Do these independent banks have the juice to float multi-million dollar loans to gun manufacturers?  

[Chucktshoes]

5 minutes ago, Garufa said:

Do these independent banks have the juice to float multi-million dollar loans to gun manufacturers?  

There’s the rub. 

[Raoul]

Just now, Garufa said:

Do these independent banks have the juice to float multi-million dollar loans to gun manufacturers?  

There you go poking me in the eye...lol. Probably not.

Truth is we're all just dinosaurs anyway. Let's just get brutally honest. People like us are a dying breed. Most everyone under 50 expects the government to take care of them. And they'll get their wish. At the cost of their freedom.

This is gonna be the future. When there's this many  people on the planet there's no choice but for government to control most aspects of our lives.

Best we can hope for is a particularly deadly strain of the flue. Thin the herd as it were.

[MacGyver]

7 minutes ago, Garufa said:

Do these independent banks have the juice to float multi-million dollar loans to gun manufacturers?  

The average credit union in the US is about $60M in managed assets.

You could probably put together some type of tower with several participating - but no one wants to take that chance. The politics are going to get in the way of underwriting. Forget what you think about RKBA stuff - it's a more a matter of the stability needed for investment. No manufacturers are really doing much investment right now because they don't know what's coming down the pike politically.

You'd probably be better off seeking some type of VC or private equity money.

[Garufa]

25 minutes ago, Raoul said:

There you go poking me in the eye...lol. Probably not.

Truth is we're all just dinosaurs anyway. Let's just get brutally honest. People like us are a dying breed. Most everyone under 50 expects the government to take care of them. And they'll get their wish. At the cost of their freedom.

This is gonna be the future. When there's this many  people on the planet there's no choice but for government to control most aspects of our lives.

Best we can hope for is a particularly deadly strain of the flue. Thin the herd as it were.

You knocked it out of the park my man.  

All I have to add is many over 50 (more like 70) NEED the government to even barely survive.  

Edited October 9, 2018 by Garufa

[E4 No More]

33 minutes ago, Raoul said:

There you go poking me in the eye...lol. Probably not.

Truth is we're all just dinosaurs anyway. Let's just get brutally honest. People like us are a dying breed. Most everyone under 50 expects the government to take care of them. And they'll get their wish. At the cost of their freedom.

This is gonna be the future. When there's this many  people on the planet there's no choice but for government to control most aspects of our lives.

Best we can hope for is a particularly deadly strain of the flue. Thin the herd as it were.

I'm proud to say that my children and older grandchildren are all conservatives. My middle kid was all about Obama when he first ran. We asked her what policies of his that she supported, and she couldn't name one. All she could say was that he spoke to her. When I pointed out that being a smooth talker was all he had then she saw the light. It was affirmed when we told her of some of the policies of the Democrats. She is now a solid conservative.

[Raoul]

Only one of many.

[Ronald_55]

4 hours ago, Raoul said:

There you go poking me in the eye...lol. Probably not.

Truth is we're all just dinosaurs anyway. Let's just get brutally honest. People like us are a dying breed. Most everyone under 50 expects the government to take care of them. And they'll get their wish. At the cost of their freedom.

This is gonna be the future. When there's this many  people on the planet there's no choice but for government to control most aspects of our lives.

Best we can hope for is a particularly deadly strain of the flue. Thin the herd as it were.

If you start working for the CDC, remind me to stock up on antibotics...

[btq96r]

On 10/9/2018 at 6:32 PM, MacGyver said:

You'd probably be better off seeking some type of VC or private equity money.

This seems the most doable, and the industry probably needs a banking arm as much as anything at the moment.  As much money as there is in the gun community (companies and rich folks who could come on as investors for an ownership share), they could probably startup a 2A Credit Union, and run it for the benefit of gun manufacturing & sales companies.  They would have to be a bit tighter on the flow of capital, and offer reasonable, not VC or hedge fund rates of returns for shareholders and customers.  Keeping their nose out of the banking sector in general by sticking to a fixed savings and loan model would be a nice insulation technique, but the first time someone greedy has enough power, that would be a risk. 

Honestly, the NRA should look at this as their survive the next 20yrs project, and set it up while the political cover and regulatory path is there via Trump holding the White House.  They have the best chance to match up the needed parties and get it off the ground.

[mikegideon]

If the market is there, it will get funded. No amount of Do-gooders will stop it. Typical... think they can control the will of the people.

[diamondback]

On 10/9/2018 at 5:19 PM, Gotthegoods said:

https://www.ammoland.com/2018/10/fifth-third-bank-joins-war-against-guns/#axzz5TTF60pjM

5rh/3rd is now following Citi and BoA.

Big deal because after 2008, with intent to protect consumers, 70% of the baking held by the 7 major bankcorps, now it is only 5 holding that same 70%.

Regionals would be next, since the major bank is out of gun business, and the regional shareholders usually want to sell out to the big boys, they will get the gun biz off the books.

Pretty insidious way to attack the 2A, choke the financial services needed to run the wholesale/retail industry.

 

Very creative, but insidious. I have often figured the lefties will find ways to make ammo so expensive that we cant afford to shoot