“If we cannot reach a voluntary agreement, I will consider legislation to address the problem,” said Hillary Clinton to a group of Wall Street bankers.

She's referring, of course, to the crisis of subprime mortgages. Several years ago, thousands of people voluntarily signed an agreement to pay off mortgages for new homes at a variable interest rate. Personally, I'd never do this unless I could back it up in payment. But evidently many people do not feel this way. Once interest rates go up a point or two, they feel they should not have to pay off their loans. Senator Clinton is their man, because she conveniently agrees. She and her cohorts plan to force lenders to, in effect, write off the losses for the sake of politics. Damn the effect on the wider economy. Damn the injustice to those who do pay off their bills. Forget about the further precedent this sets for government intervention in the economy. All that really matters is that it has enough popular appeal to squeeze Hillary into office with 51 percent of the vote. Then she gets to live out her dream. What about the glory of self-sacrifice she and others like her espouse? It doesn't apply to them.

By the way, what's this about a "voluntary" agreement? Hillary is saying: "Submit voluntarily--or I'll force you to do what I want through legislation." Now think about this. How is this any different from a common criminal holding a gun to your head, telling you to be "reasonable" and do what he says, or else?

There's nothing "voluntary" about being forced to do something. Lenders should state this openly. "We'll do what you tell us, Hillary," they should say. "But only if you force us."