Monday, February 27, 2006

One of the worst laws ever passed

Bush on the day that he signed the Bankruptcy reform bill:

''In recent years, too many people have abused the bankruptcy laws. They've walked away from debts even when they had the ability to repay them."


Once again, the moron who's never had to worry about bankruptcy because one of daddy's friends would bail him out or set him up with a sweet deal (*cough* Texas Rangers *cough*) fucks up again.

In what will undoubtedly be the first of many ''I told you so" reports, the National Association of Consumer Bankruptcy Attorneys has found that, overwhelmingly, people who file for bankruptcy protection aren't deadbeats who went on shopping sprees with the intention of shirking their debts.

I'd like to see one of them confronted about this -- fucking Biden should have it stuck in his face anytime he hits the trail. When he comes to Iowa and New Hampshire hit the idiot up on this and let him know he's NOT getting a nomination.

That's quite contrary to what was being charged by supporters of a federal bankruptcy law that went into effect last October.

For years, those proponents argued that billions of dollars were being lost because people were simply being allowed to walk away from their debts...

...Now, in the first analysis of the tens of thousands of people who have undergone credit counseling since the law passed, the bankruptcy attorneys association found that nearly all (97 percent) of the debtors truly couldn't pay their debts...

...Four out of five filers felt forced to seek bankruptcy protection because of a job loss, catastrophic medical expenses, or the death of a spouse, according to the report, ''Bankruptcy Reform's Impact: Where Are All the Deadbeats?"


A special and dubious nod to Democrats like Joe Biden who is in the hip pocket of the credit card industry; Harry Reid and Joe Lieberman. They expended no real effort to kill this bill and rolled over. Not just for his ubiquitious self-promotion am I anti-Biden, I'm anti-Biden because this bill is as far from what the Democratic Party should stand for as any I can contemplate.

In return they gave no real benefit to the industry it turns out and managed to really harm consumers. As rapacious a bill as possible.

1 comment:

Unknown said...

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