Guns and More Guns: Will Wall Street Ever Let Go of Firearms? [Fortune]
BlackRock, Inc. (BLK)
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Source: Fortune
Will Wall Street ever let go of guns? That question has come up before — after the shootings in Newtown, in Orlando, in Las Vegas, and on and on. Now, with the nation’s emotions raw over the killings in Florida last week, evidence is mounting that investors may be rethinking their long, fraught relationship with the firearms industry. On Thursday, the day the head of the National Rifle Association issued a searing rebuttal to calls for stricter gun control, the nation’s largest privately owned bank announced it would stop issuing NRA-sponsored credit cards. Then, the investment giant BlackRock (blk) said it was exploring ways to cull gun companies from the portfolios of clients who no longer wish to invest in them. In Florida, site of the latest tragedy, teachers expressed frustration that their retirement funds own gun stocks, following revelations that holdings included the maker of the assault rifle used to kill 17 students and educators at Marjory Stoneman Dougl
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