Federal Investigations to Proceed on Operation Choke Point

Federal Investigations to Proceed on Operation Choke Point

Posted on November 21, 2014

http://www.nraila.org/legislation/federal-legislation/2014/11/federal-investigations-to-proceed-on-operation-choke-point.aspx

As we reported last month, a coalition of congressional representatives led by Rep. Blaine Luetkemeyer  (R-Mo.) had requested internal investigators at the Department of Justice (DOJ) and the Federal Deposit Insurance Corporation (FDIC) to conduct formal inquiries into Operation Choke Point, as well as any officials and staff involved in the program.  Rep. Luetkemeyer is now reporting that those requests have been granted.  According to his press release announcing the decisions, “The correspondence I received from the FDIC and DOJ is a great first step in ensuring that those responsible for Operation Choke Point are held accountable and that Congress and the American people receive details and answers they deserve.”

Over the past year, we have reported at length on the abuses of Operation Choke Point, an enforcement program involving DOJ and FDIC (among other agencies) that claims to target financial fraud, but in reality is being used to choke off banking services to legitimate, although politically-disfavored, businesses.  These businesses include retailers of firearms and ammunition, a number of which have found their banking relationships abruptly severed with little or no explanation and without reference to anything the individual businesses did or did not do.  Earlier this year, a congressional report based on examination of nearly 900 internal DOJ documents found that the operation's adverse effect on legitimate businesses was not merely an unintended side-effect but the outcome of a deliberate attempt to target entire business sectors that, while legal, were deemed objectionable by regulators.

Many questions about the program remain, including who decided which business sectors should be targeted, the extent of coordination between the agencies involved, and who within the Obama administration knew of or encouraged the activity.  The forthcoming investigations should hopefully shed light on these and other important issues.  What is clear is that DOJ and FDIC have a lot of explaining to do.

Your NRA remains committed to shedding light on the abusive practices of Operation Choke Point.  While other attempts to reign in Choke Point are underway -- including legislation and litigation by affected members of the financial services industry -- the ultimate solutions to such rank abuse of investigative and enforcement authorities is to ensure they are clearly revealed for what they are and to pinpoint the decision-makers and planners involved. Legislation and court orders, while beneficial and certainly indicated in addressing Operation Choke Point, are no substitute for integrity, sound discretion, and professional ethics.  In this regard, Operation Choke Point may have more to say about the character of those administering the system than about the soundness of the system itself.

Department of Justice (DOJ)

Carla A. Hills was the assistant attorney general at the U.S. Department of Justice (DOJ), and is a member of the Bretton Woods Committee.

Note: Bretton Woods Committee

http://www.brettonwoods.org/page/about-the-bretton-woods-committee

The Bretton Woods Committee is the nonpartisan network of prominent global citizens, which works to demonstrate the value of international economic cooperation and to foster strong, effective Bretton Woods institutions as forces for global well-being.

The Committee was created in 1983 at the suggestion of two former Treasury officials - Secretary Henry Fowler and Deputy Secretary Charls Walker, a Democrat and a Republican - who saw the need for an organized effort to ensure that leading citizens spoke about the importance of the international financial institutions (IFIs).

Committee members are leaders at the top of the business, finance, academic, and non-profit sectors, including many industry CEOs, as well as former presidents, cabinet-level officials, and lawmakers who share the belief that international economic cooperation is essential and best served through strong and effective IFIs. Through the Committee, they champion global efforts to spur economic growth, alleviate poverty, and improve financial stability.

The Committee organizes frequent conferences, seminars, and educational activities. Many of these events are designed to reach a broad public audience, while others offer members the opportunity to provide important advice, support, and constructive criticism to the management of the IFIs. Working closely with successive U.S. administrations, the Committee also reminds elected leaders that global economic prosperity and lasting national security are closely tied to continued progress on multilateral issues.

The Committee relies solely on the funding of its members and does not accept funds from governments or the multilateral institutions.

George Soros is a member of the Bretton Woods Committee, and was the chairman for the Foundation to Promote Open Society.

Foundation to Promote Open Society was a funder for the Roosevelt Institute, and the NAACP Legal Defense & Educational Fund.

William M. Isaac is a member of the Bretton Woods Committee, and was the chairman for the Federal Deposit Insurance Corporation (FDIC).

Cantwell F. Muckenfuss III was the counsel to the chairman for the Federal Deposit Insurance Corporation (FDIC), and is a director at the Roosevelt Institute.

Jeh Charles Johnson was a governor for the Roosevelt Institute, and the assistant U.S. attorney for the U.S. Department of Justice (DOJ).

Louis Harris is a governor for the Roosevelt Institute, and a senior director at the NAACP Legal Defense & Educational Fund.

Eric H. Holder Jr. is the attorney general at the U.S. Department of Justice (DOJ) for the Barack Obama administration, and was an intern at the NAACP Legal Defense & Educational Fund.

William T. Coleman Jr. is a senior director at the NAACP Legal Defense & Educational Fund, and a member of the Bretton Woods Committee.

Henry Louis Gates Jr. is a director at the NAACP Legal Defense & Educational Fund, and a member of the Bretton Woods Committee.

Andrew J. Young is a senior director at the NAACP Legal Defense & Educational Fund, and a member of the Bretton Woods Committee.

Vernon E. Jordan Jr. is a senior director at the NAACP Legal Defense & Educational Fund, a member of the Bretton Woods Committee, Valerie B. Jarrett’s great uncle, a director at the American Friends of Bilderberg (think tank), and a 2008 Bilderberg conference participant (think tank).

Carla A. Hills is a member of the Bretton Woods Committee, and was the assistant attorney general at the U.S. Department of Justice (DOJ).

Valerie B. Jarrett is Vernon E. Jordan Jr’s great niece, the senior adviser for the Barack Obama administration, and a member of the Commercial Club of Chicago.

Newton N. Minow is a member of the Commercial Club of Chicago, and a senior counsel at Sidley Austin LLP.

R. Eden Martin is the president of the Commercial Club of Chicago, and counsel at Sidley Austin LLP.

Michelle Obama was a lawyer at Sidley Austin LLP.                    

Barack Obama was an intern at Sidley Austin LLP.

Penny S. Pritzker is a member of the Commercial Club of Chicago, the secretary at the U.S. Department of Commerce for the Barack Obama administration, a director at the Export-Import Bank of the US, was the national finance chair, fundraiser for the 2008 Barack Obama presidential campaign, a co-chair for the 2009 Barack Obama inaugural committee, a fundraiser, national co-chair for the 2012 Barack Obama presidential campaign, a contributor for the 2013 Barack Obama inaugural committee, and the host for the Barack Obama fund-raising dinner, 7/2/2008.

Eugene K. Lawson was the vice chairman for the Export-Import Bank of the US, and is a member of the Bretton Woods Committee.