Your Congressman Is Now Your Loan Broker

Things that make you say “Ugh”, as Rob Port of Say Anything says:


WASHINGTON – Can’t afford your mortgage payment? If the bank won’t take your call, your member of Congress just might.

Several lawmakers whose districts are drowning in foreclosures are taking unprecedented steps to help people stay in their homes, including picking up the phone themselves to negotiate with banks on behalf of their constituents.

Think about that for a moment.  If a member of Congress gets on the phone with a bank, is there not an implied threat of adverse legislation or regulatory policy if the bank doesn’t do what the Congressman in question wants?  Are we Americans going to so totally abdicate our individual responsibilities and independence that our politicians are now our loan brokers?

Should we let the politicians feed us and find us jobs and buy our cars for us too?

Remember that the government powerful enough to give you everything is also powerful enough to take everything away.


Think of it as “In Dodd We Trust”:

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Update: And perhaps he’s your stockbroker as well, though I’d love to see this proposal actually pass:

You Bought It, You Own It: “Senator Lamar Alexander introduced the ‘Auto Stock for Every Taxpayer Act’ today, which would ‘require the Treasury to distribute to individual taxpayers all its stock in General Motors (GM) and Chrysler within one year following the emergence of the companies from bankruptcy proceedings.’”

Heh, indeed.™


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