GE Ends Remainder of Consumer Loan Program for Gun Retailers

Since last fall, there have been a tragically high number of public shootings, which have ended the lives of hundreds of people in addition to causing serious injuries to many more. It started with shooting at the Batman movie premier in Colorado where James Holmes entered the room dressed as the Joker before opening fire on virtually everyone who crossed paths with him.

Then, we heard about the shooting at the Sandy Hook Elementary School where Adam Lanza, 20, entered the school and began shooting at students, faculty and staff members. When all was said and done, he tragically ended the lives of 28 people. Just last week, the bombing at the Boston Marathon occurred, which killed three people and injured several others. It did not stop there, however, as the two brothers went on a rampage later that week after their photos were released to the public and they took on the mentality that if they were already going to the pen, they might as well selfishly harm more individuals.

As soon as it seemed like we might finally go a week without hearing of another tragedy, it has been announced that at least five people were killed overnight in Manchester, Illinois. The suspect was still believed to be on the loose as of early this morning, which prompted local schools to tell students and faculty members to stay inside their homes.

Due to all of these horrendous events, we have seen the government working hard to try to tighten up gun control laws; however, they came to a halt when the NRA and others in favor of the Second Amendment said that they should be able to keep their guns as long as they met the legal requirements for being a gun owner. Many democrats were angered by the laws not passing, but GE has taken a step that might make doing business a little tougher for those businesses who are primarily selling guns as they have cut out their consumer financing.

Back in 2008, GE decided they would no longer be providing consumer financing for the purchase of guns from gun stores that had not done business with GE prior to 2008. However, the new move will even end the grandfathered in financing arrangements. Although this seems like it might be bad for gun store owners, only 75 stores will be effected.



Bobby Simmons is a political news reporter and has a vast experience in covering politics. He has received recognition at high level news media and has joined Maboot.com to provide the same.

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