Yesterday, Wells Fargo CEO Tim Sloan, was brought to the Capitol to testify on something or another.

What I saw of that was this clip of Congresswoman Ocasio-Cortez asking Mr. Sloan some questions.  It was trending in YouTube so was one of my recommended videos.

She starts in on him about Wells Fargo financing private prison companies.

Did you catch that?

“Why was the bank involved in the caging of children and financing the caging of children to begin with?”

So it is her contention that the banks who loan a company money are liable for all the companies actions.

The she dives into holding the Wells Fargo accountable for the damage caused by the (very minor) spills from the Dakota Access Pipeline.

Faithful readers of this blog will remember from last year how the activist Left urged banks like Citigroup and other credit card issuing banks to use policy to destroy gun rights.  They argued that banks, as private companies, didn’t have to respect the Second Amendment and could kill the gun industry and gun sales by not financing gun companies, extending credit to gun manufacturers, wholesalers, or retailers, or allow their credit cards to be used for gun purchases.

This sort of fell off the radar quickly when Republicans pushed back against the banks.  If the banks were going to do an end run around the Constitution and effectively implement a gun ban by financial fiat, the banks would be cut off from hundreds of billions of dollars of government financial deals.

If the banks want to play politics with guns, the GOP will play politics with the banks.

Well, the Democrat Fresh Faces are in power now.

Using AOC’s logic, she establishing that the banks could be held liable for gun crime.

The banks are not protected by the The Protection of Lawful Commerce in Arms Act.

Since S&W can’t be sued out of existence for a shooting that used one of their guns, Wells Fargo can be sued for financing S&W who made the gun.

Wells Fargo then decides the the liability is not worth the cost, other banks follow, and soon there is nobody to finance the gun industry.

It’s not just guns that can be destroyed this way.  She can kill the car industry, airline industry, anything the Left doesn’t like by making it too risky for the banks to invest because of the liability attached.

When prodded about this on Twitter, she responded with the only bit of work experience she has.  bartending.

Somebody needs to tell the Congresswoman that DAPL doesn’t stand for “Daiquiri and Appletini Pipleline.”

That is not how Dram Shop laws work, but she is going to extend liability up as far as she can until the banks get scared to fiance anything the Left doesn’t like.

She is not stupid.  She is an ignorant ideologue.  Don’t confuse the two.  She is an authoritarian monster and is clever enough to figure out how to throw her weight around.

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By J. Kb

5 thoughts on “AOC, Banks, and Gun Control”
  1. Actually she is not smart enough to do anything about policy or politics. She is being spoon fed by an organization called “Justice Democracy” or something. AOC, Tlab and the somali muslim were all chosen for their seats. They are pawns of Soros and Cenk Urgur. Look at “the brains behind AOC” on youtube for more info.

  2. She’s laying the foundation for nationalizing the banks and seizing your bank accounts. After all, despite the leftist hype, banks don’t make loans with their money, they make loans with your money, and (theoretically) pay you interest for the privilege of using it.

  3. As much as I dislike Well Fargo her verbiage doesn’t sound like she has a clue about business, or representing her constituents. I guess she really does think that she can make America socialist. I wonder if she will be leading the confiscation teams, one can dream.

  4. She and the banks agree, right up to the point where they stop allowing gun owners to have bank accounts, but not to the point where great leader nationalizes their business. You’re watching two of your enemies fight. Sit back and enjoy the show.

  5. There is one thing AOC is correct about. If a bartender knowingly overserves a customer, they can hold some liability for that customer’s actions.

    However, important to note the term of art there. Knowingly. A bartender cannot assume everyone ordering a drink will drive drunk afterward. They have to have a reasonable suspicion their action as a bartender will contribute to the customer’s actions after leaving. If they customer appears relatively sober, and has rational conversation, they are sober enough to realize that driving is not good. The bartender did not knowingly overserve a drunk customer.

    And, how does that differ in any way from any other industry, business, etc..? A bank will not knowingly finance a company that is going to destroy the environment or torture children. A pipeline leaking is not a liability for the bank because the company building it is properly insured, is licensed, and has a reasonable expectation they will employ qualified workers. The operator of the pipeline also has a reasonable expectation that they will maintain the pipeline and take care of leaks in a timely manner. Good business says that is the way to go.

    As to the gun industry, if a FFL knowingly sells a firearm to a person intent to commit a crime with it, they risk loss of their FFL, their business, etc… The PLCAA pretty much says that the manufacturer or seller has to have knowledge their product will be used in illegal activity before they take on any liability. In order for a suit against a gun seller or manufaturer

    The only time things differ from the above (historically) is when the Government starts sticking their hand in where it does not belong. Nationalize the pipelines, and maintenance and repair will happen based on a spreadsheet, not based on profit or loss. Nationalize the banks and selection of who gets financing will be based on fairness, not ability to pay back the loan. (Didn’t that lead directly to the mortgage crisis a few years back???)

    Yeah, AOC is advocating for EXACTLY the same kind of central control that leads to banking crises, loss of environment, etc…

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