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With Record Profits, Credit Card Companies “Need” Government Protection?

Get this quote:

“Many people are forced into bankruptcy by health costs. That’s true, but that’s because Congress has done nothing on health care,” Campbell told a northwest Arkansas audience recently. “It’s not a bankruptcy problem. It’s a health care problem. It’s not the local banker’s job to pay for health care” when people default on loans because of health care costs.

This is the sort of specious reasoning that has left the middle class to fend for itself.

Legislators claim the new bankruptcy law will make it harder for “rich” people to avoid paying their debt. But read this to see what others are seeing.

One of the biggest problems is…

Victims of the hurricane will find their legal obligations onerous. Since people do tend to file bankrupty after they lose their home, jobs, and the like (duh), they will find it difficult to be granted an exception. The courts require paper documentation of the filer’s financial status – much of which may be lost in homes flooded for weeks.

Even a Louisiana Senator who has witnessed the devastation in person has is being exceedingly conservative with the doling out of compassion.

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