Gross! How to take a horrible bill and make it genuinely loathsome. Look at this -- look at what they are doing with this bankruptcy bill.
The bankruptcy bill was a gift to big bankers and credit card companies to begin with, in return for copious showers of campaign contributions to our very own elected representatives in Congress. Same old, same old.
The big lenders, the kind who can legally jack up your interest rates at any time for any reason (read that fine print, folks), have a problem. More and more Americans are going broke. So they declare bankruptcy under Chapter 7, which wipes out their credit for 10 years, but gives them a chance to start over without debt. So, naturally, the banks want to make it harder to declare bankruptcy by forcing people to file under Chapter 13, only a partial diminution of debt.
According to a study by two associate medical professors at Harvard, published in Health Affairs, bankruptcies are indeed shooting up. Between 1981 and 2001, personal bankruptcies rose by 360 percent, but those caused by medical debts rose an astronomical 2,200 percent. Only job loss now slightly leads medical crisis as the reason for bankruptcy -- it's ahead of divorce. more...
http://www.workingforchange.com/article.cfm?itemid=18655