The NRA Says It's in Deep Financial Trouble, May Be 'Unable to Exist'
Source: Rolling Stone
The National Rifle Association warns that it is in grave financial jeopardy, according to a recent court filing obtained by Rolling Stone, and that it could soon be unable to exist
or pursue its advocacy mission. (Read the NRAs legal complaint at the bottom of this story.)
The reason, according to the NRA filing, is not its deep entanglement with alleged Russian agents like Maria Butina. Instead, the gun group has been suing New York Gov. Andrew Cuomo and the states financial regulators since May, claiming the NRA has been subject to a state-led blacklisting campaign that has inflicted tens of millions of dollars in damages.
In the new document an amended complaint filed in U.S. District Court in late July the NRA says it cannot access financial services essential to its operations and is facing irrecoverable loss and irreparable harm.
Specifically, the NRA warns that it has lost insurance coverage endangering day-to-day operations. Insurance coverage is necessary for the NRA to continue its existence, the complaint reads. Without general liability coverage, it adds, the NRA cannot maintain its physical premises, convene off-site meetings and events, operate educational programs
or hold rallies, conventions and assemblies.
Read more: https://www.rollingstone.com/politics/politics-news/nra-financial-trouble-706371/
50 Shades Of Blue
(10,077 posts)busterbrown
(8,515 posts)Just another way to fund raise.
50 Shades Of Blue
(10,077 posts)mpcamb
(2,878 posts)They just took on Ollie North, a lying creep who's been tied to decades of GOP scandals.
Like Mark Felt said, "Follow the money."
Achilleaze
(15,543 posts)Did they funnel all their dark money to Comrade Dirty Donny* and his KGOP republican cronies. What's up with this? WTF?
* aka republican Draft-Dodger-in-Chief
mpcamb
(2,878 posts)VWolf
(3,944 posts)DemKittyNC
(743 posts)oh, and - I don't really care. Do you?
RIH (Rot In Hell), NRA
olddad56
(5,732 posts)maybe they should have kept more of Alexander Torshin's money that they were laundering for Russia.
Maeve
(42,301 posts)What we are thinking and what we might pray for....y'all can guess!
RockRaven
(15,051 posts)Now if they become the subject of a RICO case then I'll believe their ongoing existence is in jeopardy...
LiberalFighter
(51,226 posts)Augiedog
(2,549 posts)Snellius
(6,881 posts)Even their own insurance company says they're too dangerous to insure.
niyad
(113,701 posts)sorry, do the rest of us look that stupid?
reminds me of oral roberts whining that if he didn't get a certain amount of money, god would take him. hurry up, already!!
dalton99a
(81,656 posts)dalton99a
(81,656 posts)peekaloo
(22,977 posts)Quackers
(2,256 posts)Roy Rolling
(6,943 posts)I'll be back after I get a tissue for this sad story. It's a tragedy a group cannot advocate for the slaughter of innocent people behind the mask of patriotic zeal. That is, advocate for the slaughter and still make a profit. I guess business is not as easy as being media assholes.
TheCowsCameHome
(40,169 posts)a hearty SCREW YOU.
BumRushDaShow
(129,792 posts)It needed to.
They have strayed FAR FAR away from their original mission and went rogue loon.
unblock
(52,416 posts)They've always pretended to be about their gun owning members, but really they've always been a gun manufacturer's trade group
BumRushDaShow
(129,792 posts)focused on "rifles" and training. But once they decided to get "political" (and the manufacturers could feed them $$$) they went completely rogue and embraced every type of firearm.
Snellius
(6,881 posts)When I was a kid and had to go for safety training for a shotgun I got to hunt pheasants with my dad. They were really nice guys. Like swimming teachers who taught you how not to drown. Guns are ALWAYS loaded. Never point it at a person (or cow). etc.
BumRushDaShow
(129,792 posts)since they had rifle/marksman badges.... but we Girls Scouts didn't (I think Archery was about as far as that type of thing went).
Maxheader
(4,374 posts)Another righty corp pleading for donations to keep going..
Turbineguy
(37,386 posts)Advocate for responsible ownership and safety.
Nah!
Snellius
(6,881 posts)Or whatever culture war these gun nuts are fighting so that the "libtards" won't cut off their precious gun dicks.
jb5150
(1,183 posts)........... not
stopbush
(24,397 posts)the head honchos have engaged in for decades.
Merlot
(9,696 posts)Coventina
(27,217 posts)hlthe2b
(102,467 posts)blueinredohio
(6,797 posts)Vogon_Glory
(9,133 posts)The NRA has co-created thousands of shootings here in the US and abroad. Its an organization that deserves to go out of business.
HopeAgain
(4,407 posts)Not happening, they are business as usual no matter what they claim. I have been sent three glossy invitations to join, complete with mock membership cards and promises of free gifts. Not what you get from an organization on the brink.
I do wish they would fall into a black hole, however.
Bengus81
(6,936 posts)3Hotdogs
(12,445 posts)are waking up to the idea that juries and legislatures are sooner or later going to render judgements against these posers.
BumRushDaShow
(129,792 posts)but here is one about the insurers that they contracted to when they sued NY. The state's response was the following -
As the primary regulator of insurance companies and state-chartered banks doing business in New York, it is incumbent upon the Department of Financial Services to supervise and guide regulated entities to mitigate the risks to their safety and soundness that may derive from a variety of sources, including reputational risk, said New York Financial Services Superintendent Maria T. Vullo in a statement regarding the NRAS lawsuit against New York. It is equally as important that DFS enforce New York law and take appropriate enforcement action when necessary to protect consumers and ensure the integrity of our financial markets.
New York officials have fined Lockton and the insurer of the Carry Guard program, Chubb Ltd., millions of dollars. The two firms have also signed a consent order agreeing to cease doing business with the NRA in the state.
As part of the Departments ongoing investigation, DFSs consent orders with both Lockton and Chubb addressed the unlicensed and unlawful activity connected with the NRAs Carry Guard program, which unlawfully provided liability insurance to gun owners for acts of intentional wrongdoing, Vullos statement continued. The Department will not stand down from its mandate to enforce New York law.
https://www.insurancejournal.com/news/national/2018/05/11/489067.htm
IADEMO2004
(5,575 posts)elleng
(131,253 posts)irrecoverable loss and irreparable harm they and their sponsors inflict on countless millions.
gopiscrap
(23,766 posts)and also to make the big mean libruls look bad to their nut job base
calimary
(81,556 posts)Scream fire and hope there are enough gun nuts in that crowded theater.
C_U_L8R
(45,029 posts)If their membership actually wants get all up in arms about something,
maybe they should investigate misuse of their own funds
matt819
(10,749 posts)that the NRA would contract Russia directly to fund them rather than using the very public request for funds from Russia.
But, hey, when Trump asked Russia publicly to hack Hillary, lo and behold, Hillary was hacked. So I guess the NRA thinking is that this is way to request Russian support.
steventh
(2,143 posts)Do they really think they can win against Gov. Cuomo and NYS regulators? I don't think so. They picked this fight. Let's hope they go broke paying their lawyers to fail miserably in this litigation.
calimary
(81,556 posts)With a little "womp womp" thrown in for good measure!
bitterross
(4,066 posts)They want more money is all.
Pathwalker
(6,600 posts)(that they disappear from this earth). Sounds like it's fund-raising time.
Honeycombe8
(37,648 posts)to fill the bank again.
Hekate
(90,927 posts)If what they say is true, though (to steal a quote), I love it.
mainer
(12,034 posts)I want to drown the NRA in the bathtub.
Nitram
(22,932 posts)Then they'l; send out a letter for more funds saying, "Congratulations, you saved us from certain doom. But we're still not completely in the clear. Crooked Hillary and Nancy Pelosi are coming for your guns. Quick, send money!
snort
(2,334 posts)Don't worry about paying your dues. Move on.
LeftInTX
(25,677 posts)IrishEyes
(3,275 posts)The thought of the NRA being broke is wonderful. I pray that it is the truth. I know it isn't. It is just a way for them to get money from their followers.
Downtown Hound
(12,618 posts)John Fante
(3,479 posts)so I can take a massive piss on them. That is all.
locks
(2,012 posts)and trophy hunters we've enjoyed so much.
KCDebbie
(664 posts)It already gave $ they got from arms manufacturers and the Russians to Republican candidates for local, state and federal offices..
NCcoast
(480 posts)Cry me a river.
House of Roberts
(5,191 posts)Maybe that's all the credit options they have left.
calguy
(5,344 posts)I'm on their mailing lists because I'm a subscriber to many fishing sites, magazines, etc.
Every time I get one I use their postage paid envelope to send them a dog turd wrapped in a sheet of paper that says in big magic marker the words..FUCK OFF!!!
JustABozoOnThisBus
(23,375 posts)If true, then thank the NRA for not reporting you to law enforcement. You may not send feces in the mail as harassment.
Or maybe you don't include your return address, in which case your anonymous harassment is purely meaningless, though cute.
LiberalBrooke
(527 posts)I think they are afraid right now to take $ from Putin because of heightened awareness that they are being watched.
ROB-ROX
(767 posts)Those type people keep their in money off shore BANKS. They have plenty of cash. They just do not want to pay their BILLS. This is a simple case of this group wanting to be WELFARE QUEENS........Russia or the GOP would never let their good old boys DISAPPEAR like so many right wing nuts like SWIFT BOAT, and others......
jcgoldie
(11,656 posts)They start calling the gun nuts for an extra $100 everytime theres a school shooting. Piss on the lying NRA.
Bengus81
(6,936 posts)Don't buy that BS for a second.........
displacedtexan
(15,696 posts)They'll shut down, regroup, and start again. They'll be "new and improved" and "not your daddy's NRA."
Bengus81
(6,936 posts)precient
(15 posts)Board members are liable for the organization although board member lawsuits are very rare. Why? Because nobody with a brain serves on a board without that protection. Guess we'll find out if NRA is telling the truth about no insurance if/when board members start resigning.
NRA Board
https://www.motherjones.com/politics/2018/03/nra-board-members-tom-selleck/
Tom Selleck, Ted Nugent, Olly North etc., etc., ad nauseam
precient
(15 posts)They're crying like those pro wrestling bad guys who cower in the corner with the good guy starts whipping their ass.
Well, NRA is in for a good ass kicking. The NY attorney general's office is full of talent just ready to rumble. Sayanora NRA