Reply #24: Read the other comments here, and agree.. [View All]

[TreasonousBastard]

that not only are most bankrupties not from fivolous overspending, but the card companies are at least partly to blame themselves for giving away all that credit.

Take special note, though, that this "reform" is aimed ONLY at the people who can least afford to be hammered. The ones to whom bankruptcy is a genuine relief. Are the card companies, HFC, and other subprime lenders going to be restricted in return for this gift?

Corporate bankruptcy as a business strategy is untouched, hiding money in trusts, second homes...

All of the other abuses of bankruptcy have been ignored. Nobody bothered to mention "protected" pension funds going up in smoke when the bankruptcy court allows them to be an asset in reorganization, bankruptcy to avoid civil judgments, stockholder equity disappearing when the company is reorganized under a new holding company...