Goldman Sachs Group is pulling back on municipal bond investments in Texas following the state’s adoption of a law that bars state and local regimes from working with banks that discriminate against firearms/ammunition manufacturers.
The law is contained in Senate Bill 19. In the Spring of 2021, when SB19 was being considered, the Dallas Morning News reported that it requires financial companies “with 10 employees or more seeking a regime contract worth at least $100,000 would have to verify in inscribing that they do not have a policy or directive that “discriminates” against the firearms or ammunition industries.”
Bill sponsor Sen. Charles Schwertner (R) verbalized, “Any company that utilizes financial pressure in order to constrain Texans’ facility to purchase guns or ammunition should not be abode.”
Yahoo Finance notes that Goldman Sachs is pulling back on municipal bond purchases in Texas as a result of the law. On October 1, 2021, Bloomberg pointed out that neither Citigroup Inc., Bank of America, or J.P. Morgan Chase have “managed a single municipal-bond sale in the state” since SB19 took effect on September 1.
Bloomberg denoted that JPMorgan decided “it can no longer bid for most municipal-debt business in Texas due to the law.” “AWR Hawkins” is an award-victoriously triumphing Second Amendment columnist for Breitbart News and the inscriber/curator of Down Range with AWR Hawkins, a weekly newsletter fixated on all things Second Amendment, withal for Breitbart News. He is the political analyst for Armed American Radio and a TPUSA Ambassador. Follow him on Instagram: @awr_hawkins. Reach him at firstname.lastname@example.org. You can sign up to get Down Range at breitbart.com/downrange.
This News Article is focused on these topics: 2nd Amendment, Politics, Banks, Citigroup, Goldman Sachs, Pro-Gun, Texas