The Other McCain

"One should either write ruthlessly what one believes to be the truth, or else shut up." — Arthur Koestler

Subtle Point About North Dakota

Posted on | March 18, 2010 | 4 Comments

by Smitty (via Let Freedom Ring)

Politics Daily points out that Senator Conrad is trying to save the power of the only State Bank in the US to loan education money to the residents of that State from a bureaucratic steamroller careening, in a hidden sort of way, in his state’s general direction on page X, X X X of the healthcare legislation.

The package of fixes to the Senate health care bill contains a special provision for student loans that applies only to the Bank of North Dakota. The provision was written by Sen. Kent Conrad, the Democrat from North Dakota. Conrad is chairman of the Senate Budget Committee, which is taking the lead in managing the reconciliation bill in the Senate.
The provision would allow the Bank of North Dakota to continue to originate and service student loans even though a pending overhaul says that all such loans will originate through the U.S. Department of Education, beginning July 1. The bill stipulates that only North Dakota residents attending North Dakota schools would be eligible for the loans.

Two things:

  • North Dakota: this is a great place to point a middle finger at the Imperial Fed, as it points its middle finger at the 10th Amendment. Those are your residents and schools. Lend them money.
  • Other 49 States: start your own banks. Lend money to your residents. For school. For houses. Whatever. Screw the DOE, Fannie, and Freddie, and the rest of these DC clowns that have sodomized our economy.

Update: Ace of Spades concurs.

Category: Uncategorized

Comments

4 Responses to “Subtle Point About North Dakota”

  1. Synova
    March 19th, 2010 @ 3:54 am

    I saw this today (but didn’t connect the State Bank thing to North Dakota other than to wonder if they still had a State Bank… I just assumed it was talking about some other sort of State Bank (because I really did already know that North Dakota either had or used to have their own.))

    But why is something about student loans in the health care bill?

    Oh… nevermind.

  2. Synova
    March 18th, 2010 @ 10:54 pm

    I saw this today (but didn’t connect the State Bank thing to North Dakota other than to wonder if they still had a State Bank… I just assumed it was talking about some other sort of State Bank (because I really did already know that North Dakota either had or used to have their own.))

    But why is something about student loans in the health care bill?

    Oh… nevermind.

  3. goddessoftheclassroom
    March 19th, 2010 @ 9:49 am

    Somewhat related: flood insurance through FEMA. No competition, ridiculous premiums–and I only live across the street from a CREEK (not a river, not even a stream!).

  4. goddessoftheclassroom
    March 19th, 2010 @ 4:49 am

    Somewhat related: flood insurance through FEMA. No competition, ridiculous premiums–and I only live across the street from a CREEK (not a river, not even a stream!).