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ge capitol cuts off loans to gun shops

Discussion in 'General Gun Discussions' started by Oklacoyotekiller, Apr 24, 2013.

  1. Deltaboy

    Deltaboy Well-Known Member

    Shame on GE I had done business with them for over the past 30 years. But no more.
  2. splattergun

    splattergun Well-Known Member

    GE Capital is under the GE Corporation umbrella. While it is true that GE Capital is different than GE 'products' (there are many divisions of GE) they all answer to, and take their guidance from, the Board of Directors of GE Corp. GE Corp is a stanch supporter of Obama

    Is this policy change of GE Cap purely political? Probably not, GE owns lots of lawyers, so there is likely a big liability component as well. But to deny there is any political motivation in this is ignorance. GE Cap wants to fund lots of government projects. Projects like wind farms, military aircraft, and electric vehicle power. And to do so they need to kiss up to the regime in charge.
  3. Agsalaska

    Agsalaska Well-Known Member

    So understanding your last paragraph, how can they be criticized for making this decision? Combined with a risk management assessment, they also have to protect their political interests for their shareholders and for their employees. I just don't see whats wrong with what they did. Oh well.
  4. JFtheGR8

    JFtheGR8 Well-Known Member

    This is simple, don't use them. I'm fed up with ge capital for other reasons so decided to part ways a few weeks ago. Save your cash to buy your guns and gun related articles. If you must use credit then use it for other things you'd use cash for like gas and groceries where you can get double cash back bonuses on a lot of cards. Cash is king though.

    Posted from Thehighroad.org App for Android
  5. BlisteringSilence

    BlisteringSilence Well-Known Member

    Not since 2011. NBC is owned by Comcast.
  6. TX1911fan

    TX1911fan Well-Known Member

    I'm canceling my Chevron Texaco credit card as it is issued by GE Capital. In a capitalist society, they have the right to decide with whom to do business. So do I. I won't support them any more.
  7. joeschmoe

    joeschmoe Well-Known Member

  8. TheSaint

    TheSaint Well-Known Member

    If any of you cancel your GE cards, make sure you tell them WHY. A canceled card in and of itself doesn't mean much. Losing many customers over a specific reason, does.
  9. natman

    natman Well-Known Member

    First I agree that gun owners are not a protected class. At least not yet.

    Second, I did what several posters advised, I looked up "redlining" on Google.
    (side note: If you want to base an argument on the precise wording of a definition look it up and provide it yourself. Saying "look it up on Google" is a poor argument.)

    Please note that none of these definitions include any reference to membership in a protected class, at least not directly. The bold quote is the most relevant, to deny loans based on membership in a group, rather than on the individual's qualifications.

    So according to Google, redlining is denying a loan based on membership in a group rather than on individual merit. It's possible that the strict letter of the law is different. If so, please look it up and provide citations.
    Last edited: May 1, 2013
  10. JohnBT

    JohnBT Well-Known Member

    "If so, please look it up and provide citations."

    "Saying "look it up on Google" is a poor argument"

    I agree. :)

    "redlining is denying a loan based on membership in a group rather than on individual merit"

    I think you need to look at the original term - redlining. They took a map and drew a red line around certain neighborhoods or areas and refused to do business there. Sort of like a pizza place that won't deliver to everyone in town, but only to certain neighborhoods. The residents of a redlined neighborhood make up the group - all of the residents, black, white, whatever - if you live there they won't do business with you.

    Unless GE is refusing to loan money to some gun businesses in a town and not others, I don't see that redlining applies.
    Last edited: May 1, 2013
  11. natman

    natman Well-Known Member

    While I agree that in the original meaning the group was defined by geographic location, in the broader sense the injustice was caused by denying credit to a group instead of individual merit. So if you don't want call it "redlining" because the discrimination isn't geographic I'm open to suggestions as to what this new breed of discrimination should be called.

    It's still wrong by any other name.
  12. hemiram

    hemiram Well-Known Member

    The only connection I've had with GE capital is I've used the "CareCredit" for a my dog's vet bills over the last few years. One had Cushing's disease and the medicine he was on was expensive, as was the test that he needed to determine the dosage of it. I liked the interest free within 6 months to pay. I won't have them paid off for about 6 months, and I'll have to make a decision about using it again at that time. It's not looking like I will.

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