Operation Choke Point

[Freewill]

It appears that without Congress' knowledge or any legislative initiative the Obama administration had an operation to punish companies that didn't toe the line.


Thus it was with Operation Choke Point, an interdepartmental program designed to cripple or eliminate completely legal businesses just because the administration doesn’t like them. The idea for the program apparently came from a zealous and perhaps overly ambitious prosecutor in the U.S. Attorney’s Office in Philadelphia, who suggested to his superiors that the government could persuade banks to call loans, refuse to make loans or otherwise do business with certain industries, forcing many enterprises to close.

Read more: http://www.washingtontimes.com/news/2014/aug/25/keene-the-devious-designs-of-operation-choke-point/#ixzz3GUvdCit6
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[occupied]

Rather than just copy-and-paste maybe you should explain the problem you have with trying to run loan sharks and other assorted scams off the internet?

 

[Freewill]

Rather than just copy-and-paste maybe you should explain the problem you have with trying to run loan sharks and other assorted scams off the internet?

So, when President Palin decides to do the same against abortion clinics you will have no problem?

The article says they also went after gun dealers.

 

[Derideo_Te]

This smells like BS to me.

Yes, banks are regulated and yes, regulators do take a very serious look at corporations that are involved in transactions that can result in violations of the law. They do so by scrutinizing banking records and yes, banks are required by law to provide such records when audited by the regulators.

Banks are also required by law to report all transactions that could be used to launder funds for terrorism. These would include the types of businesses listed in the article. The scrutiny of gun dealers is done to keep guns out of the hands of terrorists too.

So this looks more like the usual NewsCorp tabloid journalism to me. Distorting the way in which regulations are used to protect the American people from fraud and terrorism.

So given that the average person has little to no knowledge as to how this actually works it is really easy to sucker in the gullible and make them believe that something "shady" is occurring when the reality is that both the banks and the government are just doing their jobs.

 

[Mad Scientist]

What's wrong with high interest loans? If you and I agree to one where's the harm?

Oh yeah, Banks aren't getting a cut of the "action".

Operation Choke Point - Wikipedia the free encyclopedia

This operation, first disclosed in August 2013 Wall Street Journal story [2]is controversial for the potential threat to due process; the government is pressuring the financial industry to cut off the companies' access to banking services, without first having shown that the targeted companies are violating the law.

 

[Mad Scientist]

It won't stop at just Gun Dealer either. It'll progress to whatever business the Gov't doesn't like, want or get a cut of the profits.

The US gov't can now Bomb you anywhere, Surveil you anywhere and sick the I.R.S. and the Justice Department on you for whatever reason they want and with no oversight or explanation. Is that about right?

Am I supposed to thank Veterans for all that?

 

[Freewill]

What's wrong with high interest loans? If you and I agree to one where's the harm?

Oh yeah, Banks aren't getting a cut of the "action".

Operation Choke Point - Wikipedia the free encyclopedia

This operation, first disclosed in August 2013 Wall Street Journal story [2]is controversial for the potential threat to due process; the government is pressuring the financial industry to cut off the companies' access to banking services, without first having shown that the targeted companies are violating the law.

Due process? That's only for blacks that are beating on cops or playing their knock out game.

 

[Freewill]

Timeline Operation Choke Point - American Banker

Read the comments

 

[OriginalShroom]

With all the Lefties supporting the Government using the banks to go after Ammo and Firearms stores, I can't wait to see them crying when a Republican uses the same to go after Left Wing groups. the whining will be amazing.

 

[Freewill]

It won't stop at just Gun Dealer either. It'll progress to whatever business the Gov't doesn't like, want or get a cut of the profits.

The US gov't can now Bomb you anywhere, Surveil you anywhere and sick the I.R.S. and the Justice Department on you for whatever reason they want and with no oversight or explanation. Is that about right?

Am I supposed to thank Veterans for all that?

Nope, you can thank war hawk, Nobel prize winner, and community organizer.