Illinois Rate Cap Reminds Us of the Impossibility of ‘Easy Money’ – RealClear Markets

"It's a reminder that price controls work, though not in the way that their proponents want them to. With the imposition of the cap, it was no longer affordable to lend to certain borrowers. As opposed to better off, the highest-risk borrowers in Illinois found they could not borrow the money they needed and that “their overall financial well-being had declined” in the aftermath of a market intervention falsely billed as compassionate."