So, what happens when banks and credit card companies target people for their political views? Do we need to build our own banks, too? Activist Laura Loomer, who has already been banned by PayPal, claims she had her account suspended by Chase Bank.
Enrique Tarrio, the black leader of the Proud Boys, a group that has laughably been branded a white supremacist organization by liberals, was also suspended by Chase. So was Martina Markota. And Joe Biggs, who made enough of a stink that Chase reluctantly gave him his account back.
Banking is one of the most heavily regulated industries in America for a good reason – and it’s not just because the bankers can steal your money. The idea that citizens could be cut off from using a bank because of their political views is extremely dangerous. Imagine going to your bank and being told to produce your voter registration before you’re allowed to open an account or get a credit card. If Chase is allowed to do this, we are taking a step into that world. A world where your political views could keep you from being able to get credit or run a business. Certainly, there are an awful lot of liberals who would love to see us enter a world like that. In fact, there was a column in the New York Times last year calling for weaponizing the financial industry in exactly this way to shut down the gun industry as part of an effort to deny Americans their Second Amendment rights.
You may have heard someone say, “the Constitution is not a suicide pact.” I would add to that “capitalism is not a suicide pact.” Breaking up monopolies is a conservative idea with a long track record. Protecting middle-class citizens from the abuses of corporations that are targeting them unfairly is not something conservatives have historically shied away from doing when it was needed.
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