The NRA files bankruptcy. Big Deal or Big Nothing? A thread. @SaysDana @CheriJacobus

First let's talk bankruptcy. What is it? You get protection from debts, but you have to tell highly trained federal officials EVERYTHING about your business and convince your creditors that you are being honest. It is a significant hurdle and requires you to reveal A LOT.

And the NRA has A LOT to hide. For instance, it is actually a complete fraud. It raises money from gun loving suckers and funnels MILLIONS to a shady "ad agency" Ackerman McQueen which is the actual thing scamming suckers for profit.

We know this because during a leadership squabble between Ollie "Felon" North and Wayne "Cynical Greed Personified" LaPierre, the NRA sued Ackerman McQueen accusing it of overbilling and then all hell broke loose. https://oklahoman.com/article/5628800/nra-sues-okc-advertisement-agency-ackerman-mcqueen

Among the entertaining parts of that pissmatch, was Ackerman outing LaPierre's summer "intern." https://twitter.com/DirkSchwenk/status/1128072523038494720?s=20

The WSJ leaked docs from that fight that showed that Wayne "Just Like Manafort" LaPierre spent $274,695.03 at "the Zenga store" in Beverly Hills, CA.

The NRA is operated as a fundraising arm for Ackerman McQueen. AM siphons off MILLIONS for "advertising" but uses sizeable amounts of that to pay lavish percs to McQueen and others. JUST LIKE THE TRUMP "CAMPAIGN." Board members and donors/suckers are kept in the dark.

If you dig this kind of thing, please follow. I use my political/legal commentary as a way to trick people into listening to my music.

The Ackerman McQueen/LaPierre situation is what caught the eye of the NYAG resulting in a suit to eliminate their charity status in NY. Eliminating that status would eliminate the NRA and force it to reorganize elsewhere, if it can. https://ag.ny.gov/sites/default/files/summons_and_complaint_1.pdf

As described by the NYAG, LaPierre and his hand-picked minions created a scheme to pay themselves while avoiding oversight of the NRA board and income tax. Because they are criminals.

The NY complaint is significant, but I will skip to the relief sought - all of which is entirely justified by the facts: First - dissolve the NRA and require all future assets be used for its charitable mission.

Declare that the insiders and board members LOOTED THE NRA (which they have always done)

Toss LaPierre in the garbage and ban him from all future charitable activity.

Require LaPierre and his minions to pay back the millions they looted

And this is a big one - require the NRA to account (which is to exhaustively explain) where it spent all the money it raised - AND where it got that money).

Now I haven't looked at the bankruptcy filings (yet), but I can GUARANTEE that a bankruptcy trustee and federal bankruptcy aren't going to look at those allegations and just allow the NRA to wash its hands and move to Texas.

Dirk out