Also courtesy of the Nation magazine comes word of the position of Senator Bernie Sanders, the self-described socialist senator from Vermont, on financial reform. Writes Senator Sanders: "Today, millions of Americans who pay their bills on time are now forced to pay 25 or 30 percent interest rates. That is not only obscene but, according to every major religion, immoral. Banks cannot be allowed to engage in usury and charge outrageous interest rates. We must cap interest rates for private banks at the same level as we do for credit unions – 15 percent except under exceptional circumstances."
It's amazing how the same left-liberals who would indignantly reject the idea that religious doctrine should dictate national government policy on issues such as abortion or gay marriage rush to embrace the idea when it allows them to crack down on banks.
What Jerry Muller calls the "long shadow of usury" shows itself yet again.
