“Operation Choke Point” was one of the most crony programs of Obama’s deeply crony 8 years. (Why are some people still surprised when Obama’s cronyism is pointed out? It’s weird.)
Choke Point was about putting pressure on banks to stop doing business with legitimate businesses, like gun manufacturers etc. And the banks largely complied because they got their bailout a few years ago and because they didn’t want the Feds breathing down their necks.
It was crony bullying from the Justice Department and thankfully this horrible scheme is now dead.
(From Politico)
In a letter to House Judiciary Chairman Bob Goodlatte, Assistant Attorney General Stephen Boyd referred to the program as “a misguided initiative.”
“We share your view that law abiding businesses should not be targeted simply for operating in an industry that a particular administration might disfavor,” says the letter, obtained by progressive activist group Allied Progress and later provided to POLITICO by Goodlatte’s office. “Enforcement decisions should always be made based on facts and the applicable law.
“We reiterate that the Department will not discourage the provision of financial services to lawful industries, including businesses engaged in short-term lending and firearms-related activities,” it adds.
The Justice Department confirmed the letter was authentic but declined to comment further.
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