You knew it would take a little while, but federal government over-reach has gone so far now as to try to regulate the affairs of other, sovereign nations.
With the growing poverty problem in the United States and 25 percent of the American public either un-banked or under-banked there’s a great benefit to the financial products that are being offered by the sovereign nations in Indian Country, who understand better the needs of the customers for their products than the fat cat Senators in DC who will leave the town richer than when they arrived.
This week the Senate Banking committee held hearings under the spine-chilling name Opportunities and Challenges for Economic Development in Indian Country.
Native Americans, without federal assistance, are already providing valuable banking services for those Americans who are otherwise neglected by traditional financial institutions.
For example the types of loans that tribes offer help people with immediate short term needs like car repairs, utility bills, or child care.
But not content with the disaster that they have created in the rest of the country, the Senate, still under Democrat control, is now making a land-grab to regulate banking operations in Indian Country too, while denying them the basic tools for self-sufficiency like municipal bond offerings.
It doesn’t matter to Senators that under the constitution, various laws, court decisions and, oh yeah, treaty obligations the US has with sovereign Indian nations, that the federal government does not have the authority to interfere in Native American affairs.