Yesterday’s St. Louis Gun Rights Examiner column explored the “economic Waco” against the Defense Distributed group’s “Wiki Weapon” project, in the form of JPMorgan Chase Bank’s decision to terminate the group’s account without warning or explanation. While that article acknowledged that there is no provable government connection to the bank’s action, National Gun Rights Examiner Dan reminds us in his online journal that this bank has quite the cozy relationship with the Bureau of Alcohol, Tobacco, Firearms and Explosives–the very agency that regulates the gun industry.
Not only was William McMahon, one of BATFE’s central figures in the ‘Project Gunwalker’ scandal, who despite being forced into retirement because of that role, allowed to collect generous salaries from both the BATFE and JPMorgan Chase while his retirement was pending, that bank also just happens to enjoy a lucrative contract as the Bureau’s credit card provider:
Whistleblower sources within the Bureau tell Gun Rights Examiner it invites further scrutiny of ATF dealings with the financial services conglomerate, and one embattled agent at legal odds with management alleges it provides yet another example of an official double standard.
“J.P.Morgan has ATF’s credit card account,” one source contacting this correspondent volunteered. “No big surprise that McMahon landed in a cushy job there.
Mr. Codrea later revealed that this . . . peculiar arrangement had the blessing of the BATFE’s Chief Counsel’s Office, despite some very troubling details:
“This is somebody who our reports said perjured himself before the Congress,” [U.S. Representative Darrell] Issa charged. “We don’t understand why JPMorgan would hire somebody who’s lied to Congress, that will probably be referred for criminal prosecution.”
One adviser perceives that there are billions of potential reasons why the bankers might be inclined to be helpful to the feds. Upon reviewing the approval form, attorney David T. Hardy called the approval “Extraordinary” and offered the opinion that the authorization was “meant to facilitate McMahon hiding out overseas,” and allowing him to return “when things cool down.”
As Bob Owens notes, McMahon’s “double-dipping” deal “sounds a lot like hush money.” And then Mr. Owens makes another connection:
… J.P. Morgan was one of the Obama campaign’s top contributors in 2008 to the tune of more than $800,000. They are literally invested in this Presidency. J.P. Morgan’s contribution in 2008 (and we can be sure, 2012) to the Obama campaign . I’m sure all the money flowing from the bank into the Obama campaign’s coffers had nothing to do with Obama’s recent proclamation that “J.P. Morgan is one of the best-managed banks” even after they blew $2 billion in trading. Obama has done a lot to “help” J.P. Morgan, and holds a personal account valued at between $500-$1 million Obama holds with them.
The termination of Defense Distributed’s account sounds less and less like a banking decision, and more and more like a political one (but a political one, nonetheless, with plenty of cash incentive involved), all the time.
- Holding ‘Gunwalker’ figures ‘accountable’ evidently involves sweetheart deals
- McMahon not only one favored with ATF ‘sweetheart deal’
- The Fast and Furious plan for getting rich: facilitate mass murder, draw two salaries in Obama Admin payoff scam?
- ATF whistleblower site posts Fast and Furious manager’s OK to work for JPMorgan
- Defense Distributed faces ‘economic Waco’ for challenging gov. monopoly on force
- Follow the Money