Thursday, April 30, 2009

Gov't Attempting to Seize Smith & Wesson

Marie Llosander

Seemingly in line with other corporate seizures, the United States government appears to be attempting to gain a majority stake in prominent firearms company Smith & Wesson.

Smith & Wesson, one of the oldest weapons companies in the United States, is currently on sound economic footing. However, a clause in the 2009 Stimulus Bill calls for the federal government to seize industries and companies that are essential to the economy or 'government function.'

The Treasury Department contacted the company in March 2009, asking to buy shares at $10 above market price. However, this offer was sharply rebuffed. Similar offers have been made to Remington.

After this rejection, the Treasury Department has declared that it will use mechanisms in the Stimulus Bill in order to override the corporate decision. Smith & Wesson's board of executives have also been informed that this decision by the Treasury Department could not be appealed to any superior court.

See also:
Smith and Wesson will Be Taken Over. Rationing and Shortages are Here... Fool knew

Smith & Wesson Too Big To Fail…You Know What That Means

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Anonymous said...

I will not stand for this. The government cannot do this!

God Save Us said...

I saw this on the news...God help us if the government can do this.

Anonymous said...

This should scare the Hell out of any law abiding citizen. If the government can control industries that can be used against a corrupt government, then the game is over...They win. WAKE UP PEOPLE.