Among the many things that Hugo Chavez Barack Obama wants to nationalize, i.e. seize under government control: student loans. The problem for banks is that it takes a revenue stream and yanks it out from under them. Some banks, such as the Bank of North Dakota, derive 30% of their loan income from student loans. Hope™! Change™!

According to this KXMB article, there are 55 North Dakotans employed in relation to the bank’s student loan activities. I wonder if they’re feeling all hopey-changey right now.

Of course, one of our gallant Senators promises to ride to the rescue according to the same article, pledging to deliver an exemption for the nation’s only state-owned bank. What about the other banks across the nation? Because they’re not government entities, should they be treated this way?

I’ve been meaning to write on this for quite some time, so perhaps it’s even a done deal by now. If BND is actually exempted, North Dakotans should still be upset at this latest attempt on the nation by the radical leftists running President Obama.