As so much has been writen on the thread about "the good"(gag) Mr. Rubin & the evil of some banks of late, this may fit:
THURSDAY
FEBRUARY 24
2000
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Big guns must be
OK with Citibank
Firm's 'no firearms' policy
doesn't apply to fighter jets
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By Jon E. Dougherty
¸ 2000 WorldNetDaily.com
Despite Citibank's recently publicized policy of not doing business with firms "that manufacture or sell military weapons, military munitions or firearms," new information indicates the New York-based global banking giant may be selective about enforcing its own policy.
Though company spokesmen have denied Citibank pursues "business relationships" with such firms, a newly discovered press release tells a different story. Dated Nov. 30, 1999, the release states that Sanford I. Weill, 66, chairman and co-chief executive officer of Citigroup, was elected to the board of directors of United Technologies Corporation, a company that manufactures Pratt & Whitney engines for jet fighters, as well as Sikorsky helicopters for the military and other "aerospace and defense products." Citigroup is the parent company of Citibank and Travelers.
According to the report, United Technologies Corporation Chairman and CEO George David "noted the long-time ties between Citigroup and UTC, and its predecessor, United Aircraft & Transport. Gordon Rentschler, then chairman of National City Bank of New York, now Citibank, was Frederick Rentschler's brother, a founder and a former chairman of United Aircraft & Transport. Gordon Rentschler also sat on United's Board, as have five other senior Citibank executives."
Twisted gun barrel artwork on the United Nations' grounds in New York, with giant Citibank building looming in the background. Photo by WND contributing reporter Ed Oliver.
Weill, who became chairman and co-chief executive officer of Citigroup Inc. in October 1998, was also hailed by David in the report as "one of the best known and most respected businessmen in America," and someone who "brings to UTC's board of directors a lifetime of distinguished business experience."
The controversy over Citibank's anti-gun firm policy began last week when WorldNetDaily reported that a small Las Vegas-based firearms organization, the Nevada Pistol Academy, had its three-day-old business account suddenly closed by a local Citibank branch. The denial came after the Citibank branch manager remembered the global corporation's policy forbidding any business relationships with groups or companies dealing in weapons.
According to a letter sent to academy manager Chris Lorenzo, the local bank branch said Citibank had a corporate-wide policy prohibiting branches from "maintaining accounts for businesses that deal in weapons." Lorenzo was accidentally allowed to open the account, said Citibank spokesman Mark Rodgers, but three days later the branch corrected the error and sent Lorenzo a "Notice of Account Closure," citing the policy as the reason.
The policy was then confirmed to WorldNetDaily by Rodgers as corporate rather than local banking policy. But Rodgers also said, specifically, "Citibank's consumer business has a longstanding policy of not engaging in financial relationships with businesses that manufacture or sell military weapons, military munitions or firearms."
As in the past, repeated attempts by WorldNetDaily to solicit comments or clarifications about the policy from Citibank's corporate public relations department in New York City went unanswered.
For his part, however, Nevada Pistol Academy manager Chris Lorenzo told WorldNetDaily on Wednesday he sees obvious "hypocrisy" in Citibank's decision to conduct business with UTC but not his company. He added, though, that he wasn't upset with the global financial giant and said he would "defend to the death Citibank's right to refuse business from anyone."
"I'm not 'out to get' Citibank," Lorenzo said, "and they're free to do business with whomever they want. That's the American way. However, if they choose not to do business with firearms or weapons companies, I also think people have a right to know that beforehand."
Lorenzo said he was unsure about earlier reports that the National Rifle Association was investigating whether or not to file a lawsuit against Citibank based on federal banking laws. The NRA could not be reached for comment.
But he said he was emphatic about a few things. "I don't want their (Citibank's) money, and I'm not doing this to get back at them, either."
Rather, he believes that if enough notoriety comes from this incident, Citibank may either be compelled to change its policy, or other banks and firms "presently considering a similar policy might change their minds."
In the fallout from Citibank's decision, pro-gun activists around the country have already begun to urge a boycott of the company. They are asking pro-gun business owners not to accept Citibank credit cards and asking all pro-gun supporters to "cut and return" their Citibank cards to the company.
(cont)
worldnetdaily.com |
