mycatharsis.com

This famously liberal blog Daily Kos :: The Bankruptcy Bill, Examinedhas a look (it’s older, I know) at the bankruptcy reform bill about to be signed into law by President Bush. While I certainly don’t share the same outrages they do (I think the chapter 11 exemption for business is a mercy for small businesses as opposed to an escape for corporations), I think it’s clear that by looking at the facts presented here, this bill is nothing more than a HORRID toadying to special interests. And not just any old special interests, but the special interest group credited most with preying on the irresponsible or less informed with predatory lending practices that are illegal in other industries. The special interest most responsible for working to cripple the financial future of Americans everywhere.

Whatever happened to populism? Working for the people? If you think the fact that this bill will hit hard the sick, the victims of crime, or those caring from the sick is just an accident, that they are just drive-by victims in this attempt to go after the so-called ‘deadbeat dads’, ‘gamblers’, and ‘compulsive shoppers’, take a look at all these proposed amendments, ALL rejected:

Amdt 37 - Protection for victims of ID Theft - REJECTED
Amdt 31 - Exempt those with serious medical problems from means testing - REJECTED
Amdt 32 - Preserves existing protections for caregivers to ill or disabled family - REJECTED
Amdt 28 - Protection for medical debt homeowners - REJECTED
Amdt 17 - Provide a 'homestead floor' for the elderly - REJECTED

Or what about the amendments that just ask the credit card companies to act more responsibly?? After all, it was their own predatory lending practices that got them into this so-called ‘mess’ that they lobbied so hard to be relieved the responsibility of …

Amdt 15 - Require enhanced disclosure to consumers about payments - REJECTED
Amdt 31 - Limit interest charged on credit extension to 30 percent - REJECTED

30 percent is laughably high in itself. But it was rejected all the same.

And what about those citizens we’re asking to fight and die for us and our freedoms?
Amdt 16 - Allowing certain protections for servicemen and women - REJECTED


It seems to me that the same congressional republicans (and democrats) that are so quick to preach responsibility couldn’t agree fast enough to relieve the credit card corporations of their responsibilities, and to do so by increasing the burden on the people.

It’s not all bad. When reading thru the bill itself, it seems more of an incremental than a radical reform, to be honest. But you gotta ask yourself, is this a step in the right direction or the wrong one?

Anyone who voted for and signed this bill into law should be ashamed.