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March 09, 2005



The credit card companies bought enough of them, that's really all it is. If they think I'm going to ever get a credit card again they're fucking insane.


Come on, Abigail! If Congress doesn't stick up for the credit card companies, who ever will?


Damn, I hate to have to self-disclose to make a point, but here goes...

My wife and I are among those who had to declare bankruptcy due to a medical catastrophe. We were hit by an uninsured motorist who ran a red light and destroyed what was then our lives. I was out of commission for over a month and my wife for longer, and she is now permanently disabled and no longer able to work. We lost the car, couldn't afford to replace it. Two incomes were reduced to one. No hope of suing the guy who hit us; he got away with no punishment and no remorse. We had debts before the accident, but they were under control and the future looked reasonably bright. We had recently relocated and my wife was seeking new employment. No more. Now our lives are defined largely by that incident.

Why am I spilling my guts here? Because this bankruptcy reform will make no distinction between people like us, and those who simply overspend. The rhetoric is that it will crack down on those who want a free ride. But the huge percentage of people who declare bankruptcy due to medical issues, natural disaster, or even identity theft will be treated the same as the "bad guys." Of course, the very wealthy will still be able to sheild enormous assets from BK. The whole thing is designed largely to benefit credit card companies, and we know how good their intentions are. It's another sad step in the wrong direction.


Way to advocate obstructionism!

While I truly feel for those in SheaNC's position, the sad fact is that Bankruptcy has become a part of (some) people's financial plans. That is simply wrong and stopping it is a good thing! I also agree that more care & attention is needed in ensuring that "rich people don't shield assets" as that is also wrong.

(I would also add that cases like SheaNC's are why everyone should have AD&D, STD & LTD insurance ...)
The Wide Awakes


Multiple insurance coverages are often not possible for the people who end up having to declare bankruptcy. The people who are teetering enough on the brink that an illness or a death will just push them over the edge...chances are they've not got the extra income to be able to shift over to insurance premiums.

Anybody see how happy the ultra-con religious people are about the Schumer Amendment not passing? Just so y'all know, the Schumer Amendment would have made it impossible for individuals (such as violent abortion protestors) to get out of their court payments by declaring bankruptcy.

See, the parts of this debate that make sense are getting shoved away by the special interests to make way for more profits for those poor, poor creditors.

Mark Coffey

For once, I find myself in agreement with you, Abigail (I knew it would happen someday! - and btw, looks like your traffic is picking up - good for you!). This is a perfect example of bought legislation on both sides of the aisle. A disgusting display by my Republicans and your Democrats...


"Way to advocate obstructionism!" - ?

Okay, if disagreeing with poor legislation is "obstructionism." If you disagree with a bill introduced by the democrats, are you an obstructionist or are you "taking a stand"? They only way to not be an obstructionist, I guess, is to nod in robotic agreement with every republican bill.

I do not advocate abuse of the BK laws. What I said was, there should be distinctions between things like medical BK versus what you descibe, BK being used as, "a part of (some) people's financial plans."

It's stupid to throw the baby out with the bathwater, as they say.

If you've followed this issue as long as I have, you know that the republicans were the ones who shot it down originally, because the democrats didn't want people who carry out violent acts against family planning clinics to declare bankruptcy to avoid prosecution, so they included language to that effect. Now the republicans removed that language, so they are supporting what they didn't support before (i.e. "flip-flopping") so that they can still make it easy for home-grown terrorists.


As odd as this may seem I agree that this bill is bad. This is not what was needed to end the abuse of the system.

Don't ask me what is needed, as I have no idea. But this bill will simply cause alot of people to live hand to mouth or under the radar and off the grid.

I am not shocked, however, that the dems caved. They are no longer representing the average american anymore than the republicans.

We will soon (5-10 years) have more people living in poverty than we have had since the depression. This is my prediction.


This bill coming at the time that it has, the time of widespread public opinion by way of the blogs, has really showcased the growing disconnect between politicians of all stripes and the common people. Politicians are never in danger of going bankrupt, for the most part, and the credit card companies are paying them, so what do they care? Aside from a few notable holdouts (Ted Kennedy sticking to principle, Evan Bayh likely positioning himself, among others), nearly everybody has caved on this one, and it's disgusting.


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