How A 2005 Law to Prevent Bankruptcies Led to the 2008 Recession

[Celerity]

16. I never said he was the sole reason, but he did help champions the 2005 Bill through congress

from the Democratic side. You also try to misrepresent the that Act by putting up ludicrous RW-framed examples, straight of the 'welfare-queen''style play book.

So nope, not buying what you are selling. The 2005 Act was disastrous for millions and an perfect example of the horrific side of bipartisanship when its is framed through a corporatist lens.

Legitimate bankruptcies still went through and are still going through.

Is a flat out falsehood.

to quote the article I linked to

In light of what occurred in its wake, this law is easily one of the most disgraceful aspects of the Bush and Biden legacies. The harm it did to middle-class Americans, especially during the crushing events of the recession four years later, is immeasurable. The bill made it nearly impossible for average families to file Chapter 7 bankruptcy protection, also known as "clean slate" bankruptcies intended to discharge nearly all debts, a matter of a few years before they'd need it the most. The bill instituted an all new means test to determine whether debtors with insurmountable financial hardships earned enough income to pay back all or part of their unsecured debts, specifically credit debt. If they earned too much, a clean slate bankruptcy became impossible, and they'd be forced to file Chapter 13, which would force debtors to pay back their debt over a five-year timeline, thus legalizing neo-indentured-servitude to creditors.