New Constituent Services

Doug Bandow at the Cato Institute's blog has a post about a new kind of help being sought from elected officials. Seems that people who have been turned down for loans by banks that received federal bail-out money are asking their congress-critters to step in. Talk about the Law of Unintended Consequences rearing its ugly head. How long before this starts the ball rolling once again on the government forcing banks to loan money to people without the means to pay it back. And what bank wouldn't go along, knowing the taxpayers will subsidize their foolishness to the tune of billions of dollars.

We are heading at a scary clip toward nationalization of banks in this country. And it won't end there. Here's Mr. Bandow's conclusion:

On the one hand, this is outrageous. On the other hand, if the taxpayers have to support the banks, why shouldn’t the banks support the taxpayers? The logic is obvious even if the consequences are potentially catastrophic.

It won’t be easy to roll back the federal government’s leap into socialism American-style. But if we don’t halt the federal subsidy express, there might not be much real “free enterprise” left in America when we finish.