In this episode of Liberty Curious, Kate Wand discusses the Obama-era Operation Chokepoint, and today’s “Operation Chokepoint 2.0” with AIER Senior Research Faculty Thomas Hogan.
Tom explains how government regulators have been pressuring banks not to lend to politically unpopular industries, such as firearms manufacturers, payday lenders, and cryptocurrency companies, even though there are no laws against lending to them.
He also traces the increase in regulators’ powers over time, such that unelected bureaucrats enact overly burdensome rules and requirements and circumvent the democratic process.