Doing Business in Texas: guns v the bankers

All of this happening this month before the massacre.

NYT Dealbook email with no link

by Stephen Gandel, news editor Dealbook

snippet

In a letter sent to the Texas attorney general this month, JPMorgan, the nation’s largest bank, signaled its willingness to continue working with the firearm industry. The letter described the bank’s “longstanding business relationships” with the industry in the state, noting that it “anticipates continuing such relationships into the future.”

The letter, which was sent by lawyers representing the bank from the firm Foley & Lardner on May 13, was in response to a new law in Texas that bans state agencies from working with a firm that “discriminates” against companies or individuals in the gun industry. One provision of the law requires banks and other professional service firms to submit written affirmations that they comply with the law.

The bank’s policy “does not discriminate against or prevent” it from doing business “with any firearm entity or firearm trade association ‘based solely on its status as a firearm entity or firearm trade association,’” the letter declared.

1 Like

I wonder what would happen if a state like California, for instance, passed a law with the opposite intent of Texas’s.

3 Likes

The bank’s policy “does not discriminate against or prevent” it from doing business “with any firearm entity or firearm trade association ‘based solely on its status as a firearm entity or firearm trade association,’” the letter declared.

Yes corporations are completely amoral. They are interested only in profit.
The Supreme Court Citizens United v. Federal Election Commission decision needs to be revisited.
Also congress should look to Canada’s laws regarding campaign contributions & short campaigns (months rather than years) & adopt them for our country.
It won’t happen of course our republic & its representatives has already been sold to special interests. Why would they permit any changes to the system they have corrupted?

3 Likes

Pucks,

I’d rather have a law affecting gun sellers. Any homicide or suicide the laws would allow any citizen to sue the gun seller.

If the US Supreme Court overturns that then there is a precedent for overturning the Texas abortion act on the same grounds.

3 Likes