Court Docs: Obama Admin Targeting of Businesses Ran to Top of FDIC

Operation Choke Point was Holder’s baby. The idea was to pressure banks into not doing business with perfectly legal companies that the Obama administration didn’t like. (The banks in turn could be crippled by regulators if they didn’t play ball.) The Obama administration was full of crony capitalism but this was one of the best examples.

(From The Washington Free Beacon)

Choke Point was an initiative under which the Obama administration tried to shut down disfavored industries by removing their access to payment processing and other banking services, thereby cutting off their financial “oxygen.”…Targeted businesses were almost all entirely legal, and included ammunition sales, online gambling, and payday loans.

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