The 9th floor office sits high set against swirling black clouds scattering snow flurries mixed with rain. And my heart is black as ice.
I’ll give the administration this – blackmailing GE was a clever move. Clipping the financing from aiding gun manufacturers is one way to attack the issue without congressional approval. One unethical, shady, probably illegal way…
Fine, if that’s the way this game will be played, let’s have it. Does Immelt think he’s immune? How many sweetheart deals has that bullshit company had to cut to keep that pathetic growth rate coming? You cannot believe that GE would even exist in its current form, if they hadn’t slipped down the Executive Office’s trousers enough times in the past.
I wonder, how long will preferred tax laws aid Immelt (those come from Congress, I believe) if he makes the NRA’s blacklist? I’m tired of GE anyway; choke it off and watch it splinter.
In the meantime, there are plenty of work arounds for RGR. Other banks are expanding their financing, and the executives of the company are sharp. GE may even help them worm through, if they haven’t completely lost the desire to make money.
Your days are numbered Immelt. I look forward to watching you squirm.
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CCJ served you well today.
Yes it did. Although it will truly serve me well when it reclaims $30.
Well — I’m of 2 minds. I own a bit too much already, so I’m tempted to sell it all or add to an already oversized position. It is a frustrating stock.
It is a very frustrating stock, indeed.
Hmm, it seems the GE Money decision only affects 75 retailers. Questionable impact…mostly headlines. Interesting to see if any of the banks follow.
If other banks follow, there will be banks located in gun friendly states that will gladly do business with the gun manufacturers.
WS Journal reports Wells Fargo stopped financing gun businesses 10 years ago, and BofA halted in 2008.
You see where that will lead. No?
The government gets all the big banks in its back pocket, under control so to speak, and then systematically eliminates the smaller local/regional banks one by one until no one is left to deal with anyone in the firearms industry.
An update post on the coming implosion of the euro would be much appreciated.
I don’t think it’s necessary.
The basic game here is that the debt maturity distributions of the eurozone are heavily slated to the front, and as that wall gets pushed higher, the swelling impact it will have on countries, economies, and currencies (as interventions are steadily needed) will crush Europe, for as long as they can keep the ball rolling.