Posted by Tina
Several years ago I posted about a practice undertaken by our government that targeted gun sellers, pawn shops, and other legitimate businesses. Dubbed “Operation Choke Hold” the Justice Department designed regulation gave the government the power to pressure banks to close the bank accounts and deny credit to certain businesses. These actions were justified by the quasi-legal term, “reputational risk,” a term commonly used in banking circles to describe businesses that are suspected of being illegitimate or considered at high risk for fraud.
Today I was happy to read that the House of Representatives voted 250 to 169 to put an end to this tyrannical regulation:
Critics say the secretive program, run by the Department of Justice, has been used to target politically unpopular industries such as gun sellers.
“We’re elated,” Rep. Blaine Luetkemeyer, R-Mo., one of the bill’s co-sponsors, told The Daily Signal after the vote. “We’ve been working on this for two and a half years—we’ve been lied to, put off and dissed by the different regulatory agencies, and we’ve prevailed.”
Rep. Jeb Hensarling, chairman of the Financial Services Committee summed up my feelings nicely: “We are losing the rule of law to the discretion of regulators. For legally constituted businesses to have to fear that in the dark of night they’re going to be shut down by the awesome power of the Obama administration is an outrage.”
Good for the House Republicans!
I’m no historian but I can’t imagine that any other administration in our nations history has ever waged war against Americans as this administration has; cannot wait to say, “Good riddance!”
Sometimes the Congress works, but will the anti-firearm cabal in the Senate stifle it? Feinstein must be fuming.
I say good riddance too, but in no way will Republicans crassly boo Obama on his way out like the obnoxious liberal Rats did to Bush. Despicable behavior of the kind one has come to expect from Democrats, liberals, the left in general, and people like Chris.
You’re right Pie. I will say good riddance but I will also wish he and his family well as they go on their way.