Operation Choke Point, A Secret Program by the DOJ Holder and Obama breaks every law of the land and has destroyed thousands of families and their companies. Major banks that are still responsible for the great recession in 2007-2008 that continues today makes closed door deals for free money by the Federal Reserve creating their own tremendous wealth. Has any President ever been jailed? Did Nixon just miss federal prison by a matter of days? Can Eric Holder play the games without justice? What does Obama work on that helps you?
Major banks are making illegal deals with the Obama Administrative State and within Operation Choke Point has agreed to destroy the small enterprise thus crippling the middle class free enterprise system.
These major banks and their executive boards that have gone along with the corrupt administration have no place in America. Obama by phone and pen has decided what type of business that you may own and operate as he allows the Federal Reserve to create fake fiat worthless dollars by the trillions.
SunTrust Bank is cutting ties with three types of legal businesses in
the latest evidence of the Obama administration’s secretive crusade against
“objectionable” enterprises but SunTrust is not the only bank doing bidding for the Evil Empire of Barack Obama. Now SunTrust may have been forced to close the accounts because the DOJ can close their business by eliminating their deposit insurance.
SunTrust, which counts more than 400,000 small business clients, cited
“compliance requirements” as its reason for closing accounts with “payday
lenders, pawn shops and dedicated check-cashers.” which clearly indicates if you have a SunTrust Bank account you should close your account today to help save yourself and the country. It's clear that SunTrust is in bad shape as they sold their customers down the river, leaving them broke and without services vs. making the Obama scam and lawless actions public. SunTrust, all of a sudden, is not too big to fail. Close your accounts today.
“It is consistent with long-standing industry practice to review
relationships to ensure they satisfy a range of business and risk
considerations,” the bank said in a little-noticed press release dated Aug. 8. but you may consider that the now legal drug dealers in Colorado will enjoy banking soon and the DEA DOJ FBI has little concern. The research will reveal the Czars behind this takeover and who's going to enjoy the benefits of less competition in the market. Closing a dozen little stores will make the big ones bigger and more profitable.
In the same blanket notice, however, SunTrust underlined its support
for maintaining bank relationships with licensed gun sellers but stories are leaking out that long term stable and honest business owners have lost their accounts, without notice and without any notifications. Operation Choke Point is bubbling to the surface and the threat is now clear. If Obama - Holder - and soon to be Clinton decides you're out, your out.
Gun dealers, as previously reported, are among legal
businesses targeted in the Justice Department-coordinated initiative known as Operation
Choke Point but at the same time Eric Holder stands in contempt of Congress concerning the Fast and Furious Gun Running Scandal to Drug Cartels. Obama will make sure that you cannot easily buy a gun using your credit card and making it impossible to operate a modern business with any bank in America. The lawlessness of this action has little reference in history and stands alone as a major failure of the Obama Administrative State.
The bank said:
SunTrust fully supports all of the rights that Americans are granted
under the Constitution, and we continue to maintain banking relationships with
licensed firearms dealers but the stories coming to the surface may not tell the whole story yet. SunTrust has no choice but to put on a good face in front of their building while they close, maybe thousands of accounts behind closed doors.
>>> Agency Blames ‘Confusion’ for Choking Business Owners’
Access to Banks
Mark Calabria, director of financial regulation studies at Cato
Institute, a libertarian think tank, suggested that SunTrust released the
statement to make clear that the bank is under duress by the Federal Deposit
Insurance Corporation as part of Operation Choke Point. This would mean that Obama and Holder did a Black Panther Chicago Style run on a good bank and forced them to shut down accounts or lose their deposit insurance, forcing the bank to shut down? This is gangster stuff that Hollywood makes movies about. Strong arm the bank, extortion, shut down certain accounts or the government will shut you down. Does this sound like Hitler, Stalin, Mao and others and will you knock on your representatives door within 24 hours to demand action?
“This admission from SunTrust demonstrates that Operation Choke Point
has not ended, but actually expanded while becoming even less transparent,”
Calabria said. “More banks should come forward publicly.” but of course the banks making this public has a direct threat from their customers and millions will close their accounts. When Michelle Obama decides that Ice Cream is bad for your health you can expect the banks to close all ice cream shops, tanning bed services, cigarette stores and even movie theaters that play the wrong conservative movies. The free enterprise system in America is gone but pot in Colorado is o.k. and tens of thousands of illegal aliens moving across the border is just fine with the criminal White House. In some strange technical view it's most likely a legal move by the administrative progressive socialist government but painting stars on the store front widows of Jews was also legal, because Hitler said so.
According to a House committee report, the FDIC, under direction of the
Justice Department, has pressured banks and other financial institutions to
sever ties to a variety of legal businesses that the Obama administration
considers objectionable. The Obama administrative state - communist style government has no right to stop any legal business. Can you buy any Edison light bulbs? Can you buy high powered hunting ammunition? Can you report an illegal alien at work without getting fired because you're a trouble maker? How many jobs do you have? Is the government planning on saving your family from terrorists?
It's difficult to believe that the drug using Obama objects to anything illegal. Ignoring the law is the way he tries to satisfy the progressive left so more research is required to reveal the total truth. Under the Obama plan, all pawn shops and their owners must be crooks even as tens of millions of people use their services, buying and selling, loaning and earning interest or income is the free enterprise system. You won't be able to purchase any type of ammunition for your guns, not because of a shortage because the government has purchased billions of rounds to be used, most likely under Marshall Law.
The apparent goal of Operation Choke Point is to deny “high risk”
merchants and entrepreneurs access to the banking and payment networks they
need to survive.
>>> Meet Four Business Owners Squeezed by Operation Choke
Point
Pawn shops, payday lenders and gun sellers were among the legal
enterprises overtly targeted by the FDIC, according to lists recently taken
down from the federal regulatory agency’s website.
choke point high risk list
The Justice Department contends that Choke Point’s goal is to combat
unlawful, mass-market consumer fraud. However, some recent evidence suggests
otherwise.
In July, after coming under congressional scrutiny, the FDIC removed
lists of “high risk” businesses from its website, citing “misunderstandings” in
which its guidance led to sudden decisions by banks across America to close
accounts with established customers that fell in the listed categories.
Norbert Michel, research fellow in financial regulations at The
Heritage Foundation, said SunTrust Bank’s announcement indicates that Choke
Point is far from over, and that the program continues to pressure banks to cut
ties with legitimate enterprises such as pawn shops. Michel told The Daily
Signal:
The FDIC may have clarified its position on dealing with supposedly
high-risk firms, but banks and payment processors are still nervous.
>>> Commentary: FDIC Cooperated With Justice Department in
Operation Choke Point
Here’s how the three enterprises cut off by SunTrust, and also under
government scrutiny, work:
Pawn shops typically offer loans backed by an item of value. If the
individual receiving the loan can’t pay it back in time, the pawn shop will
keep the item. Payday loans are small,
short-term loans to hold borrowers over until their next payday. Check-cashers
are in the business of cashing checks for a fee.
Heritage’s Michel said payday lenders, pawn shops and check-cashers all
have been criticized for taking advantage of the poor by charging exorbitant
fees or leaving customers in more debt than they started with.
SunTrust declined to expand upon its formal statement.
Brian Wise, senior adviser to the United States Consumer Coalition, a
free-market watchdog organization that encourages business owners to share
their Choke Point stories, echoed Michel’s sentiment:
Despite the FDIC’s removal of their target industry list [from] their
website, the stories of countless lawful businesses who have lost their bank
accounts continue to pour in through our website, which is proof that Operation
Choke Point is not only full steam ahead but increasing its damage to our
economy and American consumers.
The Obama administration advocates against racial profiling, yet it
discriminates against small businesses.
Wise also leveled a blunt charge of discrimination against the Obama
administration, saying:
This administration has advocated against racial profiling, yet it is
no more legitimate for the federal government to discriminate against America’s
small businesses.
Cato’s Calabria said Operation Choke Point has continued implications
for some of the most vulnerable segments of society, which the Obama Justice
Department argues it seeks to champion.
“Life has just become harder for low-income families,” Calabria said,
“as bank regulators continue to force banks to cut off essential financial
services to those low-income families.”
Any honest man or woman can own a legal business in America but, not under Obama and Holder. Under the cover of darkness the Obama Administrative State has clearly destroyed, most likely thousands of small business owners and their enterprises and bankrupted their families through Operation Choke Point. The DOJ IRS NSA FBI clearly have played a role in the destruction of the middle class economy and as always the bankers go along. The new game is that Obama does not like certain freedoms, thus crushing the enterprises and their owners. Operation Choke Point clearly belongs in North Korea, Russia, China, Iran, Syria and other evil empires on the planet.
