A new report just revealed the NRA is on the verge of financial collapse

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While our Republican-controlled Congress still prevents us from taking any concrete action to rectify the epidemic of gun violence that takes so many lives from us every year, we can take some solace in the news that the nefarious organization behind the political opposition to commonsense gun reform is in serious trouble.

Rolling Stone‘s Tim Dickson is reporting that new legal filings by the National Rifle Association reveal it is in “grave financial jeopardy” and could soon “be unable to exist… or pursue its advocacy mission.”

The financial troubles for the despised blood-profiteering coven stem from an ongoing lawsuit against the state of New York, in which they are attempting to argue that they are the “victims” of a “blacklisting campaign” by financial regulators, which has cost them “tens of millions of dollars in damages.”

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Thanks to New York, they have lost their insurance coverage, which prevents them from continuing with their day-to-day operations, and even basic banking services that are “essential to the NRA’s corporate existence.”

In even better news, the organization’s protofascist propaganda channel, NRA TV, is also on the ropes. “The NRA’s inability to obtain insurance in connection with media liability raises risks that are especially acute; if insurers remain afraid to transact with the NRA, there is a substantial risk that NRA TV will be forced to cease operating” reads the filing.

Considering that NRA TV’s Dana Loesch just claimed that she was the victim of a “public lynching” when she was booed by students at an anti-gun violence town hall and the NRA’s TV shows consist almost entirely of barely restrained violence directed at the “left” and the media, the cessation of their hateful rhetoric would immediately make America a better place.

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New York’s regulators are punishing the NRA for trying to sell their “Carry Guard” insurance in their state, which they do not have a license to do. The “Carry Guard” insurance protects gun owners from liability for the criminal consequences of firing a gun, which the state ruled was “unlawful.”

Not content with a $7 million fine and the end of the insurance policy sales, New York regulators took aim at the NRA’s ability to do business with financial services in the state, which prompted the NRA’s counter-lawsuit.

It’s best to not get our hopes up yet; the NRA is an immensely powerful lobbying group into which right-wing billionaires will certainly pour enormous sums of money to keep afloat.

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But losing their lawsuit and have their access to Wall Street finance cut off would be a devastating blow that could be the beginning of the end for the monstrous organization that more closely resembles a domestic terror group than a “gun’s rights” advocacy nonprofit.

Read the original report here.

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Colin Taylor

Managing Editor

Colin Taylor is the managing editor of the Washington Press. He graduated from Bennington College with a Bachelor's degree in history and political science. He now focuses on advancing the cause of social justice, equality, and universal health care in America.

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