Wednesday, November 09, 2016

South Dakota Voters Overwhelmingly Approve Loan Sharks

Yesterday (11/8/16), three out of four voters in South Dakota approved a measure inviting loan sharks into the Coyote State by approving Initiated Measure 21, which caps interest rates on short-term loans at 36 percent per annum and imposes Arkansasian limits on work arounds.

This is what happens when initiated measures are twisted away from their original intent, which was to check government power, not to extend a tyranny of the majority over economic policy.

No comments: