Bank of America Tells Gun Manufacturer McMillan Firearms “We no Longer Want Your Business”

[WNYBuckHunter]

All received tarp money. I'd rather see the auto industry get it than the financial sector, but hey what can you really do.

Boa did repay all the money, and most if not all Tarp loans did/will generate revenue for Uncle S©am.

I see what you are saying. I dont agree with the bailouts, but Id rather give my money to an American based company that send it off to Japan buying a Toyota or Honda. JMO

[WNYBuckHunter]

McMillan's description of the conversation says that BOA made the change for 'political reasons'. Are you assuming that 'political reasons' means that the government is putting pressure on BOA? There were hundreds and hundreds of banks that received bailout money. Is there a pattern of any of these other banks making similar changes? I wonder if 'political reasons' is really referring to what the company feels is the general consensus of their customers- maybe they're just trying to pander to what they think is becoming a more pro-gun-control public.

Doesnt matter to me why they are anti-gun, it only matters that they are anti-gun.

[nyantler]

_{Really virgil?.. Here you go again... man you have a terrible case of liberal thought disease... as for a pro gun control public... do some homework and you'll find that gun ownership has spiked in the last 4 years... and they said political pressure, not political reasons.. two different things.}

_{I don't have any disease. I just like to consider all sides of an issue before forming an opinion. If you're comfortable jumping to conclusions or taking the same position on all issues, that's your business. Not sure why you're so threatened by 'thought'. Maybe it is true that gun ownership has increased over the past few years. But, that doesn't mean that the public in general is not more pro gun-control than pro-gun.}

No.. you think like a liberal and always take one side...the liberal side...that's okay.. just stop calling yourself balanced... you clearly are not... you seem to be having a problem with coming to grips with the fact that you are a liberal...

And, you said "becoming" more pro gun control... if the trend is an increase in gun ownership that would be "becoming" more pro gun... you must have forgotten to think about that one.

[nyantler]

so what the issue. If I no longer want to have a business with a mfg it up to me to cancel the arrangement. they did so what..

.It must be in the dark of night that this is a left wing plot to take your guns away...

Would you say the same thing if it was your local grocery store telling you they would no longer sell you food because you were a gun owner? I doubt it... It is true that as a private business you can do as you please, but you should be prepared for the consequences thereafter and as a consumer you have the right to dislike any company for doing what you might consider wrong. I believe BOA has taken an anti-gun stance with their actions, therefore I choose not to do business with them... and it looks like many others are doing the same.

[virgil]

No.. you think like a liberal and always take one side...the liberal side...that's okay.. just stop calling yourself balanced... you clearly are not... you seem to be having a problem with coming to grips with the fact that you are a liberal...

I haven't take a side on this issue. I simply asked if you all had considered all the factors involved before jumping to conclusions. Again, I know that any suggestion of due diligence before making bold statements and accusation is upsetting to you.

Would you say the same thing if it was your local grocery store telling you they would no longer sell you food because you were a gun owner?

This is a ridiculous comparison- a grocery store refusing to sell to a customer is not the same as a grocery store not wanting to have a business relationship with another company that they have differing political stances on. BOA, as far as I know has not refused to serve customers who own guns- that would be a fair comparison.

[ELMER J. FUDD]

I see what you are saying. I dont agree with the bailouts, but Id rather give my money to an American based company that send it off to Japan buying a Toyota or Honda. JMO

<<<<Honda guy, guilty as charged.

[biggamefish]

Well now it looks like I have to take a trip out to cebelas to get a credit card. I think I will wright bass pro a letter asking if they know about it. It won't get me anything but I would think a big company like Bass Pro wouldn't like BOA doing stuff like that.

[ELMER J. FUDD]

Well looky here. The top 10 recipients received @ 75% of the money.

http://projects.propublica.org/bailout/list/index

Check out the right side, it shows how much revenue the gov. made off the deal.

Recipients:

928

Total Committed:

$652,038,425,787

Total Disbursed:

$601,447,107,758

Total Returned:

$299,752,636,031

XML CSV

Name Type State Amount Committed Revenue to Gov't Fannie Mae Government-Sponsored Enterprise D.C.

$116 B disbursed

$20 B

Freddie Mac Government-Sponsored Enterprise Va.

$71 B disbursed

$17 B

AIG

Received other federal aid. Click to see details. Insurance Company N.Y.

$33 B returned / $68 B disbursed / $70 B committed

$165 M

General Motors Auto Company Mich.

$23 B returned / $51 B disbursed

$694 M

Bank of America

Received other federal aid. Click to see details. Bank N.C.

$45 B returned / $45 B disbursed

$5 B

Citigroup

Received other federal aid. Click to see details. Bank N.Y.

$45 B returned / $45 B disbursed

$12 B

JPMorgan Chase Bank N.Y.

$25 B returned / $25 B disbursed

$2 B

Wells Fargo Bank Calif.

$25 B returned / $25 B disbursed

$2 B

GMAC (now Ally Financial) Financial Services Company Mich.

$3 B returned / $16 B disbursed

$3 B

Chrysler Auto Company Mich.

$7 B returned / $11 B disbursed / $13 B committed

$2 B

Goldman Sachs Bank N.Y.

$10 B returned / $10 B disbursed

$1 B

Morgan Stanley Bank N.Y.

$10 B returned / $10 B disbursed

$1 B

Bank of America subsidiaries (incl. Countrywide) Mortgage Servicer Calif.

$369 M disbursed / $8 B committed

$0

FHA Refinance Program Fund FHA Refinance Fund

$50 M disbursed / $8 B committed

$0

PNC Financial Services Bank Pa.

$8 B returned / $8 B disbursed

$745 M

U.S. Bancorp Bank Minn.

$7 B returned / $7 B disbursed

[WNYBuckHunter]

This is a ridiculous comparison- a grocery store refusing to sell to a customer is not the same as a grocery store not wanting to have a business relationship with another company that they have differing political stances on. BOA, as far as I know has not refused to serve customers who own guns- that would be a fair comparison.

I think its a perfect comparison. McMillan was BOA's customer, not business partner.

[virgil]

You feel that McMillan Fiberglass Stocks, McMillan Firearms Manufacturing, and McMillan Group International are the same as the guy trying to buy groceries?

[ELMER J. FUDD]

If one entity makes money off of another, it's a business/client relationship any way you look at it. Do you think an insurance company's money is different than a persons copay at the hospital you work at?

You feel that McMillan Fiberglass Stocks, McMillan Firearms Manufacturing, and McMillan Group International are the same as the guy trying to buy groceries?

It's still money exchanging hands.

Edited April 27, 2012 by ELMER J. FUDD

[virgil]

If one entity makes money off of another, it's a business/client relationship any way you look at it. Do you think an insurance company's money is different than a persons copay at the hospital you work at?

Again, I don't see the comparison. When we provide a service, we get paid (hopefully). When a bank loans a business money, the bank collects interest on the loans and the business uses the loan money to grow their business- and make money. Both sides make money. This is a business relationship. Otherwise, are you assuming that McMillan had simple checking accounts and no other business with BOA?

[ELMER J. FUDD]

Are you disecting it to the point of "end user" vs "middle man" I'm sure we all see the difference, but the fact remains that boa makes money off of mcmillan as does the supermarket does off of customers.

Edited April 27, 2012 by ELMER J. FUDD

[WNYBuckHunter]

You feel that McMillan Fiberglass Stocks, McMillan Firearms Manufacturing, and McMillan Group International are the same as the guy trying to buy groceries?

As far as their relationship to BOA goes, pretty much. A customer is a customer. I can understand why you dont get the idea though, you dont work in a typical customer oriented field.

[nyantler]

No.. you think like a liberal and always take one side...the liberal side...that's okay.. just stop calling yourself balanced... you clearly are not... you seem to be having a problem with coming to grips with the fact that you are a liberal...

I haven't take a side on this issue. I simply asked if you all had considered all the factors involved before jumping to conclusions. Again, I know that any suggestion of due diligence before making bold statements and accusation is upsetting to you.

Would you say the same thing if it was your local grocery store telling you they would no longer sell you food because you were a gun owner?

This is a ridiculous comparison- a grocery store refusing to sell to a customer is not the same as a grocery store not wanting to have a business relationship with another company that they have differing political stances on. BOA, as far as I know has not refused to serve customers who own guns- that would be a fair comparison.

MTG was a customer!! It was the same relationship as a store owner and someone using or buying a product... they weren't doing a joint business venture... MTG had been using their services for 12 years and were cut off because they got into the gun selling business... it's that simple.. much, like the grocery store customer having to find a new store, mtg has to now go elsewhere for their banking needs. That would be "refusing to serve a customer"... so it is exactly the same thing.. before you start what you call "considering all factors" you should first consider reading all the facts!

[fasteddie]

MTG was a customer!! It was the same relationship as a store owner and someone using or buying a product... they weren't doing a joint business venture... MTG had been using their services for 12 years and were cut off because they got into the gun selling business... it's that simple.. much, like the grocery store customer having to find a new store, mtg has to now go elsewhere for their banking needs. That would be "refusing to serve a customer"... so it is exactly the same thing.. before you start what you call "considering all factors" you should first consider reading all the facts!

Right on !