Big Business & Big Brother

Script:

We’re witnessing the biggest merger in history. Big government and big business are getting together to tell us what to do, what to say, and what to think. And the only way they can do it is to work around the Constitution.

Sometimes this alignment is voluntary, sometimes not. Either way, it portends a profound change in the way we live—and not for the better.

An early hint of this merger occurred in 2013. That’s when the Obama Administration implemented what it called “Operation Choke Point.” The idea was to choke off a type of business—pay day lending—that the administration didn’t like but couldn’t get Congress to ban.

Pay day lenders make small, short-term loans at high interest rates. Their customers are usually in need of quick cash—for example, to pay a bill that’s due before the next paycheck arrives. This is entirely legal. Nonetheless, the Obama administration pressured banks not to process credit-card payments to these businesses or give them loans.

Banks are heavily regulated and very susceptible to government pressure. All the administration had to do was apply pressure to two banks—Four Oaks Bank in North Carolina and CommerceWest in California. Soon, others took the hint and stopped doing business with payday lenders.

State governments have taken a cue from the federal government. In 2018, New York State warned banks and insurance companies about “reputational risk” in doing business with the National Rifle Association—thereby denying it financial services.

Recently, the federal government has been pressuring social media platforms to censor speech. As we learned from the Twitter files and recent litigation, government agencies such as the FBI,