If you're as appalled by the bankruptcy bill moving through Congress as others are, Josh Marshall has set up an auxiliary blog where details of the thing will be laid out in all their horror/glory. It's written by an expert in bankruptcy law and three of her law students.
Essentially, it's a giveaway to credit card companies; it makes it harder for people to declare bankruptcy, no matter how desperate their circumstances. Since the credit industry has begun extending credit (with expanding limits -- every time I get a solicitation these days the available credit line offered seems to be above $20K) to people who perhaps aren't the best risk, you could argue, and I do, that if they're having trouble getting paid, it's their own fault. Moreover, they're still making bucketsful of money.
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Posted by: Charly Gordon at March 8, 2005 12:13 AM