No Economic Freedom in NC

North Carolina is 100% run by Democrats. They have a majority in both state houses -- the NC Senate has NEVER had a Republican majority. The Democrats also hold the governorship. With that tandem, they are free to ignore the judicial branch, and often do.

The North Carolina state banking commissioner recently decided that you are not free to pay people money if you want to. That's correct, if I WANT to give you money, the state has decided that I should not be free to do so.

This ruling has to do with "excessive rates" charged by companies doing business freely with consumers. Specifically, this "ruling" (how is it unelected officials can make rulings that put companies out of business?) has to do with "payday lending."

Now why is it that I am prevented from giving you money voluntarily. This sort of ruling only protects those it is designed to protect -- those who the Democrat Legislature want to protect, because they are paid to protect them -- Big Banking.

Posted by: Ogre at 01:05 PM

Comments

1 I am confused by this poste

You say. "That's correct, if I WANT to give you money, the state has decided that I should not be free to do so."

But from the article you link to, it just means you can't charge me more than 36% interest. But if you are charging me interest, how are you 'giving' me money?

Did I misunderstand the ruling?

Posted by: Gerald at December 24, 2005 02:16 PM (5GlMm)

2 Gerald -- if I want to give you $100 tomorrow in return for you giving me $50 today, I cannot. The state has determined that I should not be free to make that decision.

Posted by: Ogre at December 24, 2005 02:21 PM (s2+Ck)

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