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by benj111 2717 days ago
I havent seen anyone claiming it was 1. Although I don't visit gab, where most of those people probably are.

Having said that, who are all those companies regulated by?

I don't have a fully formed accusation here. All I know is that finance is heavily regulated. I suspect even the fear of regulators asking questions, and all the paperwork that would entail would be enough reason for some companies to cut their links.

1 comments

Another commenter has already mentioned https://en.m.wikipedia.org/wiki/Operation_Choke_Point which was a recent government attempt to block banking services to various legal activities such as gun dealers.

I suspect Gab isn’t related to something like that though. It’s more that media focus on Gab means each company they do business with will want to drop them as a PR hot potato, to avoid news articles saying “why is X still willing to work with Gab?”

You're deliberately misrepresenting what that Operation was about. The target was money laundering, and they investigated the 50 or so businesses most associated with laundering. The point was to prevent money laundering without significantly interfering with those industries' access to financial services.

Meanwhile, Gab is just reaping what it has sowed. They claim that they represent the silent majority, and if that's not another one of their lies they shouldn't have any problems setting up their own financial services.

I completely disagree with the statement that I "deliberately misrepresent[ed]" anything. I read through the wikipedia link before sharing it. Did you bother to read it before attacking me?

A small excerpt:

> On May 29, 2014, the U.S. House of Representatives Committee on Oversight and Government Reform published a highly critical staff report that concluded:[21]

> “ Forceful prosecution of those who defraud American consumers is both responsible and admirable. However, Department of Justice initiatives to combat mass-market consumer fraud must be legitimate exercises of the Department's legal authorities, and must be executed in a manner that does not unfairly harm legitimate merchants and individuals.

> Operation Choke Point fails both these requirements. The Department's radical reinterpretation of what constitutes an actionable violation under § 951 of FIRREA fundamentally distorts Congress' intent in enacting the law, and inappropriately demands that bankers act as the moral arbiters and policemen of the commercial world. In light of the Department's obligation to act within the bounds of the law, and its avowed commitment not to "discourage or inhibit" the lawful conduct of honest merchants, it is necessary to disavow and dismantle Operation Choke Point.

regarding Gab, your 2nd paragraph seems to agree with what I said, so nothing to say there.