NRA Board Meeting, June 26

The board met last Saturday, and nothing happened. The hyper-expensive law firm sent a representative, but no one, either on the floor or in committees, had even a question for her. Her boss is now Wayne’s Brain, and to question his judgment is to doubt Wayne’s Brain, and no director will run that risk. It was the same way over the 30 years that Angus McQueen and his firm were Wayne’s Brain. Never doubt their judgement, never question their looting, keep your complaints private and only with trusted friends. In public, applaud their productions and approve their budget.

The latest development — that Lloyd’s of London, the people you turn to to insure your jumping the Snake River Canyon in a rocket-assisted motorcycle, have refused to insure NRA’s board and officers against misconduct — was never revealed to the board. The story hit the gun blogs only five days after the board meeting. NRA leadership must have known about it well before then. The refusal probably came only after negotiation, and Lloyd’s is a consortium of 76 groups of investors. Bad news like that is kept hidden from the board, lest the sheep take fright and wonder if they are being led into disaster. They don’t WANT to believe that, but really bad news like this might start some thinking.

It is really bad news. They’ll probably go into the September meeting with no insurance protection. NRA leadership announced it has set up a $5 million fund to protect them, but wait a minute. Director liability would be to the NRA, for having failed in their fiduciary duty to protect the corporation from fraud and waste. NRA thinks it can set up an arrangement where, if a court orders them to pay NRA, NRA will give them the money to pay it? NRA will pay itself? My attorney friend is out of town, but that arrangement just can’t be legal.

One thought on “NRA Board Meeting, June 26

  1. Yep. Delicious! The board deserves the worst. I don’t know why anyone would be surprised by this news. The writing was on the wall in early May, probably a lot earlier:

    Financial Times, May10, 2021 (referring to announcement the prior week)
    “Lloyd’s of London bans syndicates from writing business for NRA”
    https://www.ft.com/content/b3f8ea5c-538d-11e8-b24e-cad6aa67e23e
    “Lloyd’s, the London-based insurance market, has banned its syndicates from writing business for the US National Rifle Association.”

    The article then focuses on carry insurance, but you’d have to be an id… — I mean, an NRA director — not to take it as the general intent it was.

    Now they have to misappropriate member funds to self-insure their misappropriation of member funds!

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Create your website with WordPress.com
Get started
%d bloggers like this: