2.11.2005

Why Does Congress hate Americans?

Bastards
Atrios (02.11)
Well here it is, 2 new bills in Congress, backed by Credit Card companies, to make it harder for average, working folk (like yourselves) to declare bankruptcy.

Atrios links to a story in today's Washington Post titled
Tighter Bankruptcy Law Favored

What do you need to know? (besides studies have found that medical bills & divorce were the causes of bankruptcies and the credit card cause was a myth?), how about...

"Our overall concern is that this isn't a balanced bill," said Travis Plunkett, spokesman for the Consumer Federation of America, a nonprofit consumer research and advocacy group. "There isn't a single curb on abusive lending practices by credit card companies in these bills."

He said he finds the industry's claim it needs bankruptcy reform puzzling because credit card issuers "continue to offer credit to Americans in record amounts" and have reported, as a group, one of their most profitable years in more than a decade.
Hmmmm, now that is odd. It seems like when we turn on the TV all we see is adds for credit cards, refinancing our homes, and a lot of drugs we're pretty sure we don't need.

Congress. Not working for you that's for sure... so who is?

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