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NAT’L – INDUSTRY INSIDER – Democrats, Banks And Guns

Any other year, taking money from an industry that’s conducting barred activity would be called corruption. Not election years, though, and not when it comes to banks and guns. Congressional Democrats are holding a fundraiser Aug. 24 for Democratic nominee Joe Biden headlined, “Virtual Conversation on the Future of Antitrust,” according to Politico. The event will be hosted by U.S. Sen. Amy Klobuchar (D-Minn.) and U.S. Rep. David Cicilline (D-R.I.) and is being feted as “a chance to talk about technology and antitrust with Sen. Klobuchar,” in the invitation. Sen. Klobuchar is the ranking member of the Senate Judiciary Committee’s antitrust subcommittee and Rep. Cicilline chairs of the House Judiciary Committee’s antitrust subcommittee. That raised eyebrows with Politico. Both have taken a “get tough” approach with tech and social media giants, but it seems they’re taking the edge off that approach. Since Rep. Ciciline joined the slate, the fundraiser went from being a “Virtual Conversation on the Future of Antitrust,” to just being a “Virtual Conversation,” where a modest $10,000 donation buys a spot as a “chair” of the fundraiser and even a paltry $250 get the “supporters” cheap seat. That’s peculiar because those donating to this fundraiser seem to have an interest in keeping the government oversight out of their books and not looking at antitrust activity. Politico’s Zachary Warmbrodt wrote: Contributions from individuals affiliated with the six largest lenders total $907,216 for Biden and $293,434 for Trump, according to a POLITICO review of campaign finance data. Biden has a significant fundraising advantage at every one of the banks — JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs and Morgan Stanley.Warmbrodt suggests the banks are betting Biden’s better for the country, even if his policies are worse for the banks. Here’s why the firearm industry finds this peculiar. Democrats are happy to outsource their failed and rebuked Operation Choke Point scandal that sought to discriminate against members of the firearm industry under the direction of the Obama Administration Department of Justice. Instead, antigun politicians like Sen. Klobuchar and Congressman Cicilline are happy to farm out the political dirty work to banks to enact their own discriminatory policies to deny the industry access to financial services.  [full article]

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