Senate clears bankruptcy overhaul

Reuters: Senate clears bankruptcy overhaul. “This bill is a wish list for the credit card industry and a nightmare for vulnerable families and vulnerable citizens in this country,'' said the legislation's chief foe, Minnesota Democratic Sen. Paul Wellstone. “Bankruptcy has been a safety net. It is being shredded.''

You don't see much sense of responsibility from the credit-card industry, which practically begs its customers to run up those overwhelming debts. You don't see responsibility from Congress, which runs up a multi-trillion-dollar national debt and tells our children and grandchildren to pay it off.

You don't see responsibility from a president who opposes a provision in the Senate bill that would prevent wealthy debtors from shielding their assets in expensive houses in Florida and Texas. Those states, notorious havens for weathly deadbeats, allow debtors keep homes, no matter how expensive, in bankruptcy proceedings.

No, responsibility is for the little guy. As usual. [Dan Gillmor's eJournal]

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