ge capitol cuts off loans to gun shops

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Oklacoyotekiller

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I wont be buying any more ge products! LA times and cnn both have articles on ge stopping all loans to gun shops.
 
They have been doing this for a while. They hassled Buds. GE is one of the largest donors to BHO and the Gun Grabbing side of the isle.
 
no problem to me. I have the right to pick and choose which companies I want to give my business to, just like they can choose a customer. I wont use them. Its your choice if you do.
 
My suggestion is to write the Atty General of your state and request that GE Captial be banned from doing in your state. What GE is dping is "red lining" businesses. Red lining is discrimantion and illegal.

GE also issues the CC for Sams Club. So if you have one I ask you to consider closing ypur account.
 
GE Capital was providing credit to individual purchasers not the gun store. If you bought a gun from Buds you could take out a multi-year loan to finance your purchase. Not very financially wise in my opinion.
 
Queen_of_Thunder said:
My suggestion is to write the Atty General of your state and request that GE Captial be banned from doing in your state. What GE is dping is "red lining" businesses. Red lining is discrimantion and illegal.

GE also issues the CC for Sams Club. So if you have one I ask you to consider closing ypur account.
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What they are doing is not redlining. That is 100% false.
 
Doesn't matter if it's redlining or not. They made their political choice and now they can live with it.

We are currently remodeling our house, had a new roof installed this week and having the kitchen redone next month. I won't even consider any GE branded or manufactured appliance.
 
Queen_of_Thunder said:
Yes it is. They are denying credit to people based upon a defined cultural, non financial characteristic. Its called discrimnation or "red lineing".
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Sorry, but that is just not accurate. Redlining laws are designed to protect classes of people or businesses that serve people of a protected.class. Gun owners are not a protected class using the applied definition any more than a porn shop.
 
GE Capital probably had an internal battle somewhere in a risk management type department. They concluded that they were no longer safe investments. It was no more of a political statement other than possibly to appease political allies in Washington. In light of the current situation and the risks involved I can understand their position without necesarily agreeing with it. There are other industries and people out there that are most certaily safer long term bets.

Try to see it from their point of view. Say they invest in a company, or in this case probably an individual, that gets caught funneling guns to Chicago gangs, or shoots up a pizza joint, or insert next story here. They would have the potential to be crucified publicly, putting them and their political allies on both sides of the isle at risk. GE is in business to make money, not take risks for political statements.
 
Oklacoyotekiller said:
I wont be buying any more ge products! LA times and cnn both have articles on ge stopping all loans to gun shops.
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I dont know if it will make a difference or not but GE Capital is different than GE 'products'.

One is a financial company and the other sells consumer products made in China :uhoh:
 
"They received billions in bailout money"

Nope, not true.

"On the stimulus program, GE received grants of about $200 million out of the $800 billion in government spending. "

"GE never received a bailout from the U.S. government, and did not participate in TARP."
 
Queen_of_Thunder said:
A porn shop would become a First Amendment case.

Yes it is red lineing.
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Red lining applies to protected classes. As mentioned earlier, gun owners are not a protected class. If it can be proven that the majority of legal gun buyers are black, women, American Indian, Hispanic, elderly, or any other protected class as defined by or government, then there could be a case for disparate treatment. We could even qualify for special treatment if that was the case - think senior discounts and minority programs. :)
 
Sorry bout the wrong dollar figure. Ok. They received 200 million in FREE money they never have to pay back from the Feds.
 
45_auto said:
You really ought to google the definition of redlining.
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Redlining is the practice of denying or increasing the cost of services, such as banking.


GE is denying banking/credit services to legally operated business based upon the fact that they sell guns. This is no different than denying a miniorty a mortage because of who they are and not on their ability to repay the loan. Its the same thing. It's redlining.
 
Queen_of_Thunder said:
Redlining is the practice of denying or increasing the cost of services, such as banking.


GE is denying banking/credit services to legally operated business based upon the fact that they sell guns. This is no different than denying a miniorty a mortage because of who they are and not on their ability to repay the loan. Its the same thing. It's redlining.
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It isdifferent. Minorities are a protected class. To be found guilty of redlining you have to be have discriminating practices against a protected class. For example, if i, as a banker, chose not to loan money or invest in businesses that serve minorities, or homosexuals, specifically because they are minorities or homosexuals, while loaning money to the rest of the masses fornthensame purpose, that would be considered redlining. Gun owners and gun businesses are not a protected class.

You can think it is redlining all you want, but you would lose in court.
 
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