Does this sound familiar ?

Operation Choke Point Hearing Reveals DOJ Threats And Strong-Arming

From the article:
A Justice Department fraud prevention program came under fire Thursday for allegedly morphing into actively pressuring banks to deny financial services to businesses for political reasons.

The objective of the project is to choke-off fraudulent businesses from accessing financial services, in an effort to protect consumers.
The controversy, however, is over allegations that the DOJ is pressuring financial institutions to decline doing business with so-called “high risk” industries which line up squarely against the political leanings of the current administration. These businesses include ammunition sales, payday loans, pornography, fireworks companies, and others—24 industries in total, as listed by the Federal Deposit Insurance Corporation (FDIC).

Operating without legal authority and guided by a political agenda, unelected officials at the DOJ are discouraging banks from providing basic banking services…to lawful businesses simply because they don’t like them,” said William M. Isaac, former chairman of the FDIC.

Virginia Republican Rep. Robert Goodlatte revealed that one of the more egregious examples sent in to the committee was a meeting between the DOJ and a bank regarding the continued provision of financial services to a payday loan company.The DOJ official reportedly told the banker, “I don’t like this product, and I don’t believe it should have a place in our financial system. And if you don’t agree, there will be an immediate, unplanned audit of your entire bank.”

Imagine that, some part of the DOJ threatening certain businesses of audits – and possible fines – because those within the DOJ have exceeded their  legal authority..but those within the DOJ has so much “power” and the industry they are targeting are so paranoid of what actions that could be taken.. that they CAVE to the DOJ’s demands ?

It would appear that no one in the drug wholesaler business has some BALLS to come forward like the particular banker did … in this case..

3 Responses

  1. […] in our societal fabric that keep rearing its ugly head… much like this administration’s OPERATION CHOKE POINT by our DOJ.  Going after legally licensed companies, selling legal products that the DOJ has […]

  2. The fear I hear in pharmacists voices explains it all. Legitimate businesses terrorized by Mafia-style shakedowns.
    Sounds just like our national PAIN crisis.

  3. […] Does this sound familiar ? […]

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