Bitcoin lending?: GE Capital Cuts Off Lending to Gun Shops

[Wilikon]

General Electric's financial wing, GE Capital, is "quietly" cutting ties with gun stores. The financial group is sending notices to gun stores letting them know ties are being severed and funds will no longer be available for lending. 
GE Capital says this action is in response to the Sandy Hook Elementary shooting.
Interestingly, the father of Sandy Hook shooter Adam Lanza is Peter Lanza, an executive at GE Capital.
Additionally, GE did take stimulus money during Obama's first term; no one has addressed whether that bailout has impacted the financial group's decisions in any way.
GE Capital is only ending business relations with companies that carry firearms exclusively but will continue to work with retail giants that sell products other than guns, like Wal-Mart and Dick's Sporting Goods.
Conveniently, this stipulation allows GE Capital to maintain business relations with Wal-Mart, despite the retailer being "the nation's largest seller of guns and ammunition."


No matter what you think of owning a gun or not in the USA, if a business is legal and not a risk, why stopping lending? Is GE Capital going to stop helping merchants selling pressure cookers too?

Those examples tells me why I am confident bitcoin is here to stay. If enough bitcoiners believe in a business they should directly help it.

[Kluge]

Bitcoin value fluctuates wildly day-to-day and is not currently suitable to provide long-term financing solutions. That's not necessarily a fault of Bitcoin itself, but it's just that current market conditions don't make it practical.

With that said, there's no reason GE Capital won't one day be lending out BTC. Anyway, this might be a calculated move on GEC's part thinking gun control laws have a solid shot and not wanting to be exposed to that regulatory risk, or GEC really is being stupid and their statement is true at face-value.

[benjamindees]

GE Capital is an irrelevant dinosaur completely dependent upon political favors at this point.  I have a credit card from them that they told me was cancelled years ago, but actually isn't.  They are the most incompetent boobs in the financial industry, and should have gone under long ago.

[koin]

If enough bitcoiners believe in a business they should directly help it.

if we can prepay for bfl jalapenos ten months before they ship we will probably prepay for other items valuable to us as well.    specifically, for purchasing guns this was brought up here:

would i be able to make the purchase now and just not take delivery until a future time?

does such a service exist?

[ArticMine]

BTC loans using guns and ammo as collateral? So I lend some of my BTC to a gun shop in the United States and then foreclose on all the guns and ammo when the BTC / USD rate goes up and the gun shop goes bankrupt.?

[Its About Sharing]

Hey GE, if you are against violence, then how about you stop producing weapons? Man, talk about hypocritical.

Anyway, regarding the point of the thread, we are not going to need GE Capital and it is better off we don't associate ourselves with weapons producers, for many obvious reasons.

Keep the peace...

[Gabi]

America, businesses based on what happened in a school  so much fail