36% Rate Cap Is No Liberal Plot: Daugaard Votes Yes on 21, No on U!

Republican Governor Dennis Daugaard just hammered a stake through the heart of the payday lenders’ big lie that Initiated Measure 21 is a liberal Obama-Clinton plot. After telling Bob Mercer last week that he was thinking about voting for the real 36% rate cap, the Governor has announced that he voted Yes on 21 and No on U!

In a statement released Tuesday by his office, Daugaard said that he doesn’t feel strongly either way about Measure 21, but he thinks the state does have a role to play in protecting consumers.

“I am usually more comfortable voting for an initiated statutory change than a constitutional amendment, because it is easier for the legislature to amend later if there are unforeseen consequences” [Mark Russo, “Daugaard Reveals a ‘Yes’ Vote on IM-21,” KELO Radio, 2016.11.07].

I’m the last guy to say do something just because the Govenror says do it… but in this case, doing like Dennis is a darned good idea. Initiated Measure 21 is no liberal plot; it’s a reasonable way to protect South Dakotans from loan sharks. Even our conservative Governor is willing to vote for it… although with his talk about amending it in the Legislature “if there are unforeseen circumstances,” we’d better send some independent-thinking legislators to Pierre to keep the Governor from messing with 21 once the voters pass it.


5 Responses to 36% Rate Cap Is No Liberal Plot: Daugaard Votes Yes on 21, No on U!

  1. Mr. H, Governor Daugaard is smarter than most voters. And I am sure there will be people on the blog worlds who might even say he is not a conservative. But for those voters less smart than the Governor, or who might be confused, let me put forth the best options for you all:

    Vote NO on Everything!

  2. Roger Cornelius

    Just glad to see that the governor knows right for wrong from time to time.

  3. “Vote No On Everything” is advice offered by simpletons. Use a bit of brainpower at polling places today, people. You have the power to make a big difference in South Dakota political policy.

  4. I wonder what the legislature will do if the unforeseen happens and this passes? Certainly the legislature will come up with something that repeals the 36% cap and substitutes something that appears to contain some consumer protections but allows the payday lenders to continue charging whatever rate they want. I’m sure the payday lenders already have their bill in the hands of their shill Chris Langer.

  5. Well, Jeff Barth will beat Kris Langer, so we don’t have to worry about her shilling for the payday lenders. Team me up with him and Reynold Nesiba, and we’ll make sure the payday lenders get no traction.