4.20.2005

Good Luck Folks...

Well the Bankruptcy bill went through and is now on it's way to Bush to sign so it's official: Corporations now have more rights and protections than you do!

Americans weighed down by credit card bills and other financial obligations will have a harder time wiping out their debt under a bankruptcy bill President Bush is poised to sign.
Lovely: the article starts with the canard that folks go into bankruptcy because of credit card debt. >sigh< Most are apparently due to medical bills & divorce.

Many debtors will have to work out repayment plans instead of having their obligations erased in bankruptcy court under the law, which will go into effect six months after Bush signs it Wednesday. The legislation is the biggest rewrite of the bankruptcy code in a quarter-century and was pushed for eight years by banks and credit card companies.
Gee, wonder why? And we wonder why every other ad on talk radio, during the morning news or on SPIKE TV is for credit debt consolidations?

The bill got final congressional approval last Thursday, and Bush said he was eager to sign it. "These commonsense reforms will make the system stronger and better so that more Americans — especially lower-income Americans — have greater access to credit," he said.
Yes, that's our president: always eager to stick it to the American people who just aren't paying attention.

Something else to note: the 10 States with the highest rates of folks declaring bankruptcy? Solidly 'red' ones.

Good luck out there folks because it is increasingly obvious that no one is looking out for you.

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