Decius wrote:
] ] The bill would make it much harder for families in
] ] distress to write off their debts and make a fresh start.
] ] Instead, many debtors would find themselves on an endless
] ] treadmill of payments.
] ]
] ] The credit card companies say this is needed because
] ] people have been abusing the bankruptcy law, borrowing
] ] irresponsibly and walking away from debts. The facts say
] ] otherwise.
] ]
] ] A vast majority of personal bankruptcies in the United
] ] States are the result of severe misfortune. One recent
] ] study found that more than half of bankruptcies are the
] ] result of medical emergencies. The rest are
] ] overwhelmingly the result either of job loss or of
] ] divorce.
]
] Paul Krugman was on the daily show railing about this
] bankruptcy bill, which we feels has not received adequate
] press coverage.

I have never seen a personal bankruptcy that didn't relate to drug use, alcoholism, laziness, mismanagement of funds, frivolity, or outright stupididty. The study is false. The facts are skewed to protect the lazy, weak and stupid. Darwin is rolling in his grave.

RE: The State | 03/09/2005 | Bankruptcy bill another blow to safety net