The NRA Says It's in Deep Financial Trouble, May Be 'Unable to Exist'

[brooklynite]

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 NRA’s 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 state’s 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]

1. Be still my heart!

[busterbrown]

6. i think it's bullshit..

Just another way to fund raise.

[50 Shades Of Blue]

8. Yeah, I know, they are playing their suckers!

[mpcamb]

65. Either fund raising or a "Run! Hide the money!" scam

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]

2. What, they blew through all the russian payola dark money?

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]

66. I think they're rolling in dough and just pleaing poverty as a diversion.

[VWolf]

3. I guess we'll be able to pry its guns away, then n/t

[DemKittyNC]

4. Whomp, whomp...

oh, and - I don't really care. Do you?


RIH (Rot In Hell), NRA

[olddad56]

5. such a heart breaker.

maybe they should have kept more of Alexander Torshin's money that they were laundering for Russia.

[Maeve]

7. Thoughts and prayers, people

What we are thinking and what we might pray for....y'all can guess!

[RockRaven]

9. I'll believe it when I see it. Sounds like hyperbole aimed at a)the judge & b)stirring up donations

Now if they become the subject of a RICO case then I'll believe their ongoing existence is in jeopardy...

[LiberalFighter]

10. Couldn't they solve their problem by moving their hdqtrs to Russia?

[Augiedog]

11. Aawww, lets all have a sad. Hoist by their own petard.

[Snellius]

27. The karma cop of ironic justice has pulled the trigger again. Too risky to be insured!

Even their own insurance company says they're too dangerous to insure.

[niyad]

12. I call BS!!!! with that massive influx of russian cash, we are to believe the nra is broke?

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]

14. Yep. Same old scam.

[dalton99a]

13. Everyone send in your donation NOW!!!

[peekaloo]

62. I would but it's illegal to send a turd through the mail.

[Quackers]

72. Just saying...

https://www.poopsenders.com

[peekaloo]

73. .

[Roy Rolling]

15. Excuse Me

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]

16. I'm sending my warmest condolences, and

a hearty SCREW YOU.

[BumRushDaShow]

17. "Specifically, the NRA warns that it has lost insurance coverage"

It needed to.

They have strayed FAR FAR away from their original mission and went rogue loon.

[unblock]

18. Isn't their mission to sell as many guns as possible?

They've always pretended to be about their gun owning members, but really they've always been a gun manufacturer's trade group

[BumRushDaShow]

19. Their original intent was

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]

34. I used to be in the NRA.

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]

37. I think they were also involved with the Boy Scouts

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]

20. Here it comes...

Another righty corp pleading for donations to keep going..

[Turbineguy]

21. Of course they could go back to doing what they used to do.

Advocate for responsible ownership and safety.

Nah!

[Snellius]

22. Why don't they go back to teaching gun safety, like they used to. Not race war!

Or whatever culture war these gun nuts are fighting so that the "libtards" won't cut off their precious gun dicks.

[jb5150]

23. What a shame ...........

........... not

[stopbush]

24. They want to shut it down to cover embezzlement and other illegal activities

the head honchos have engaged in for decades.

[Merlot]

61. My first thought as well...now that the russia thingy is getting closer

[Coventina]

25. If only it were true....

[hlthe2b]

26. Won't someone please call the WAAAHMBULUNCE? (the real ones are full of NRA's carnage)

[blueinredohio]

28. Did the Russian money dry up?

[Vogon_Glory]

29. I hope that it's true

The NRA has co-created thousands of shootings here in the US and abroad. It’s an organization that deserves to go out of business.

[HopeAgain]

30. I will bet a million dollars against anyone who thinks NRA is going away...

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]

67. Lay low and pretend their going BK until after the mid-terms. Their name is shit right now...

[3Hotdogs]

31. If its real and the basis is insurance, it would mean the insurance companies

are waking up to the idea that juries and legislatures are sooner or later going to render judgements against these posers.

[BumRushDaShow]

38. There were articles back in February about the big "pull out" of corporate sponsors

but here is one about the insurers that they contracted to when they sued NY. The state's response was the following -

The NRA, which does not have a license from DFS to conduct insurance business in New York, actively marketed and solicited for the Carry Guard program through a website, email and direct mail, among other channels, according to DFS.

“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 NRA’S 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 Department’s ongoing investigation, DFS’s consent orders with both Lockton and Chubb addressed the unlicensed and unlawful activity connected with the NRA’s Carry Guard program, which unlawfully provided liability insurance to gun owners for acts of intentional wrongdoing,” Vullo’s 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]

32. Go find a televangelist to heal your dumb asses.

[elleng]

33. Sounds OK to me, because of the

“irrecoverable loss and irreparable harm” they and their sponsors inflict on countless millions.

[gopiscrap]

35. they're probably fucking lying to raise more money

and also to make the big mean libruls look bad to their nut job base

[calimary]

42. Indeed it might well be just another fundraising ploy.

Scream fire and hope there are enough gun nuts in that crowded theater.

[C_U_L8R]

36. Out of ammo, so sad

If their membership actually wants get all up in arms about something,
maybe they should investigate misuse of their own funds

[matt819]

39. You would think

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]

40. NRA is tilting at windmills

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]

41. Boohoo.

With a little "womp womp" thrown in for good measure!

[bitterross]

43. Bullshit!

They want more money is all.

[Pathwalker]

44. Uh-huh. Thoughts and Prayers, thoughts and prayers.

(that they disappear from this earth). Sounds like it's fund-raising time.

[Honeycombe8]

45. I don't believe it. But even if so, they shud just pick up the phone & call Putin

to fill the bank again.

[Hekate]

46. I think they lie so the suckers will send in more small donations...

If what they say is true, though (to steal a quote), I love it.

[mainer]

47. I really don't care, do ... no, wait! I do care because this is fucking great.

I want to drown the NRA in the bathtub.

[Nitram]

48. Yeah, it's their typical fund-raising ploy.

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]

49. Fake News.

Don't worry about paying your dues. Move on.

[LeftInTX]

50. Nothing but a fundraiser ploy

[IrishEyes]

51. Sending them y most heartfelt thoughts and prayers

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]

52. You can have my gun when you pry it from my cold, broke fingers.

[John Fante]

53. Dear NRA, please let me know when your org is in ashes

so I can take a massive piss on them. That is all.

[locks]

54. Awww... With the closing of ranges and trophy hunting we might have less wildfires and crazy

and trophy hunters we've enjoyed so much.

[KCDebbie]

55. If the NRA is broke it's only because

It already gave $ they got from arms manufacturers and the Russians to Republican candidates for local, state and federal offices..

[NCcoast]

56. So they're mortally wounded?

Cry me a river.

[House of Roberts]

57. Russian oligarchs charge usury rates on loans.

Maybe that's all the credit options they have left.

[calguy]

58. The NRA sends me mailers to join several times each year

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]

74. Cool story, bro

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]

59. Did they lose access to Russian money?

I think they are afraid right now to take $ from Putin because of heightened awareness that they are being watched.

[ROB-ROX]

60. LYING TURDS

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]

63. I suspect fundraising BS

They start calling the gun nuts for an extra $100 everytime theres a school shooting. Piss on the lying NRA.

[Bengus81]

64. I call BULLSHIT,every RED NECK across Murica sends them cash every year to belong.....

Don't buy that BS for a second.........

[displacedtexan]

68. Translation:we don't want to go to prison.

They'll shut down, regroup, and start again. They'll be "new and improved" and "not your daddy's NRA."

[Bengus81]

69. I can belive the "we lost our insurance" part. Who the HELL would insure that bunch of gun nuts??

[precient]

71. Insurance is the barrier between law suits and the NRA board

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]

70. Kudos to Cuomo

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