“Louisiana’s plans to finance about $600 million in interstate projects got tangled up Thursday in a dispute over moves by two banking giants to restrict gun sales by their business customers.” Oh, don’t you just hate when that happens?
The State Bond Commission, which regulates the roadwork financing plans, disagreed about how and if Louisiana should retaliate against Citigroup and Bank of America for their firearm restriction policies.
“Do I as your state treasurer want to do business with companies that impose these kinds of policies?” said Treasurer John Schroder, the Republican who chairs the commission. “And the answer to me was clearly no.”
It’s almost as if the two megabanks — not to mention companies like Enterprise Rent-A-Car, Delta Airlines and Symantec — didn’t consider that roughly half the nation still staunchly supports the Second Amendment.
But despite Schroder’s best efforts, Louisiana’s Democrat governor stepped in to keep the projects on track..and keep the offending banks involved.
Gov. John Bel Edwards’ administration successfully objected to language pushed by Schroder and Republican Attorney General Jeff Landry that was aimed at keeping the banks from being eligible to work as underwriters on the interstate financing deal.
The Democratic governor issued a statement describing himself as “a staunch defender of the Second Amendment” and calling Thursday’s meeting “an ugly display of political posturing that could have jeopardized a massive infrastructure plan for the state of Louisiana.”
Schroder will still have opportunities to make the banks’ lives more difficult.
Anger at the banks is expected to again emerge as the commission works through the monthslong process to piece together the road deal, including when financing partners are chosen in July.
Actions have consequences.