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Jeff Sessions

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What does Sessions’ resignation mean for the cannabis industry?


Cannabis industry professionals and advocates alike are rejoicing following yesterday’s announcement that Jeff Sessions officially resigned as attorney general as requested by President Trump.

Sessions was one of the biggest opponents to the legal cannabis industry. Early in 2018, he moved to rescind the Obama-era policy that allowed each state to create and make decisions on their own about cannabis without the federal government interfering or enforcing federal law. The move sent stock prices plunging almost immediately after California fully legalized on January first.

“Good people don’t smoke marijuana,” Sessions said at a hearing in April of 2016. “We need grown-ups in charge in Washington to say marijuana is not the kind of thing that ought to be legalized. It’s in fact a very real danger.”

He often associated marijuana as being a gateway drug to harder drugs like cocaine and heroin, and also connected it to the opioid epidemic in the United States, even though most research reveals that cannabis can in fact reduce opioid overdoses.

Sessions tendered his resignation Wednesday afternoon, and as one of the biggest enemies and threats to the legal industry, Sessions’ departure from his position offers a glimpse of hope that marijuana could become legal at the federal level, perhaps in the near future.

“He was the biggest foe in the administration,” said Ken Shea, an analyst at Bloomberg Intelligence. “This might give Trump a little more wiggle room to be more cannabis oriented.” With Sessions out the door, businesses can breathe a sigh of relief for the moment.

The industry was already having a good week following the results of the midterm election with Michigan becoming the tenth state in the country, and the first state in the Midwest to legalize recreational cannabis. Missouri and Utah also voted to legalize medical marijuana while Illinois elected a governor who is legalization-minded. The Democrats winning the House of Representatives is also assumed to have played a role in rising stock prices, but after Sessions’ resignation, stocks soared.

Tilray shares surged 31 percent, pushing the company back above a $13 billion market cap, according to The Motley Fool. Aurora Cannabis, Cronos Group and Canopy Growth Corp. rose 9 percent, 8 percent and 8 percent, respectively.

The disconnect between state and federal laws on cannabis makes it incredibly difficult for legitimate cannabis businesses to bank safely because banks were unwilling to have them. Sessions being gone will hopefully clear the road between businesses and banks so that money can be banked safely.

Trump has appointed Matthew Whitaker, Session’s chief of staff, to be the acting attorney general but it’s currently unclear who might replace him and when. Recent polls show that a majority of Republicans are in support of legalization so hopefully whoever is chosen for this role will follow suit and perhaps federal legalization is closer than we thought.
 
hahaha None of those here, right. :watchout: LOL :rofl:
:whipit: Hopefully not. :tinfoil: But they sure as hell try to make us fall for it every election cycle. As in..... (:newspaper::horse::cry::BangHead::scream::myday:) Better off avoiding that sideshow and vape......(:smoke::sleeping::chill::popcorn:) :smug:
Whitaker then turned to the Justice Department’s marijuana policy under President Barack Obama’s attorney general, Eric Holder.
Well, I'm not at all surprised. :facepalm2: We will be watching him closely as well.
Post mid terms elections still show some promise. :weed:The sitting president might pass Federal laws regarding Medical MJ. And all politicians get their spine back and actually start to enact legislation that won't ruffle any potential voters. Fingers crossed everybody. Bu-bye Beauregard. :biggrin:

Remember 'Great people vape cannabis.' :peace:
 
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Fighting is fun!

With @ataxian on this one, but sympathize with @momofthegoons. IMO, we'd all be better off if we remembered how to disagree with each other civilly. A forum with a small group of reasonable members should be able to manage it.

Whatever you think of Beauregard, he did the right thing when he recused himself, so it's no surprise he'd be punished for it in this administration. Whitaker should do the same, given his expressed bias against the investigation. Expect him to move quickly to shut it down before the Democratic House meets in January.
 
With @ataxian on this one, but sympathize with @momofthegoons. IMO, we'd all be better off if we remembered how to disagree with each other civilly. A forum with a small group of reasonable members should be able to manage it.

Whatever you think of Beauregard, he did the right thing when he recused himself, so it's no surprise he'd be punished for it in this administration. Whitaker should do the same, given his expressed bias against the investigation. Expect him to move quickly to shut it down before the Democratic House meets in January.
@Disrupt I love more than hate!
Just messing.
JS is on the wrong side of history!
I said it!
Most of us have different experiences & have varied options?
 
Looks like some people need to be reminded of a couple of the very few rules we actually have here.

• All members should be treated with respect. Because of the nature of this forum, we have members that are sick, in pain, and with disabilities. Take that into consideration before responding to a post that may have ‘rubbed’ you wrong.
• Posting content that harasses, belittles, threatens or flames another member is not allowed. Name calling is not allowed (i.e.. liar, idiot, jerk, thief). Posts written to offend are not allowed.

There is no need for disagreement here. We all think Sessions is an arsehole to one degree or another. What we do not need here is snippy quips & abuse directed at each other. Feel free to familiarise yourself with the rules we have here. They are in the bottom right corner of every page in the Asylum.

This thread has run its course.
 
IMO, we'd all be better off if we remembered how to disagree with each other civilly. A forum with a small group of reasonable members should be able to manage it.
My sentiments exactly.

It takes a lot to get a warning point from me. And I really hate handing them out; especially to members I consider friends.

I agree with @Stevenski that this thread has run it's course. Sessions is no longer the Attorney General. So this thread is now closed.
 
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