Louisiana Bond Commission delays refinancing of state debt over 'gun rights' questions

AG Jeff Landry raises questions about whether JPMorgan Chase is gun friendly


Louisiana’s State Bond Commission delayed the refinancing of $700 million worth of the state’s debt Thursday over questions about whether the bank selected to handle the business was friendly enough to people who want to own military-style weapons.

State Treasurer John Schroder, who leads the bond commission, pulled two items off the group’s agenda that would have allowed JPMorgan Chase & Co. to handle the refinancing of state debt. Schroder said he needs more time to look into allegations about the bank’s policies regarding companies that sell military-style weapons.

If Louisiana refuses to work with JPMorgan, it could ultimately cost taxpayers more money. The JPMorgan bid had initially been put forward for approval because it was considered the best deal for the state, Schroder said.

“We aren’t refinancing a gas station on the corner. This is a $700 million deal,” said Schroder, a Republican, after the bond commission meeting Thursday. “We have to get it right.”

Read more: https://lailluminator.com/2021/10/22/louisiana-bond-commission-delays-refinancing-of-state-debt-over-gun-rights-questions/