| Joe Biden is the guy who put-through the "anti-bankruptcy" bill. |
 Joe Biden is the guy who put-through the "anti-bankruptcy" bill.
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Aug. 23rd, 2008 @ 07:04 am 
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Senator Joe Biden is the man who sponsored the bill to make declaring bankruptcy next-to-impossible..... forcing working americans to carry huge debts on their backs, and never able to "start-over" with a debt-free life. He did that because he receives huge dollars from Delaware Credit and Banking Corporations.
More:
On Aug 23, 7:11 am, SFTV_troy <sftv_t...@yahoo.com> wrote:
>
> Senator Joe Biden is the man who sponsored (and later voted for) the
> bill to make declaring bankruptcy next-to-impossible..... forcing
> working americans to carry huge debts on their backs, and never able
> to "start-over" with a debt-free life. He did that because he receives
> huge dollars from Delaware Credit and Banking Corporations.
MORE:
"After spending millions of dollars in the 2004 election cycle to ensure the reelection of Delaware Senators Joe Biden and Tom Carper, MBNA was rewarded with the passage of the misleadingly-named Bankruptcy Reform and Consumer Protection Act.
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"Pundit Arianna Huffington describes the measure as reading "like a credit industry wish list [that] does nothing to prevent bankruptcy abuse or protect consumers."
" S.256 actually leaves vulnerable groups -- the poor, the elderly, military personnel and their families -- more vulnerable to credit card companies looking to make money off late fees and less capable of seeking protection in bankruptcy court when things go bad. In the words of Elizabeth Warren, Harvard Law professor and an expert on bankruptcy law and its effects, "This bill was designed to point a thousand daggers squarely at consumers in trouble ... it's like narrowing the doors to a hospital and expecting everyone to squeeze their way in."
...
"Under S.256, the "means test" would be applied to any debtor filing under Chapter 7, regardless of their circumstances, status, or reasons for declaring. There would be no discretion if a claimant filed due to inability to pay health care costs, or if they maxed out all of their credit cards and wasted their savings on trips to Vegas.
"In a manner reminiscent of ChexSystems, the inflexible standard is designed to leave no leeway for debtors to abuse the system, but in the process it is bound to penalize a great many people who have fallen into bad circumstances through no fault of their own (such as a loss of job).
...
"MBNA's political action committee (PAC), its subsidiaries, and associated individuals donated a total of $147,700 to Biden during the cycle spanning 1999-2004, dwarfing his other contributors."
i.e.
Biden is a corporate lackey, completely *contrary* to his supposed image as a man of the people.
"The bill will have devastating effects on this economy, especially consumers", says the Consumer Protection Agency. "By forcing debtors to shoulder bills they cannot possibly pay, it draws them into a maelstrom they can't get out of ... creating an indentured servant class" of people forced to put all of their money towards repaying debts owed to credit companies charging usurious rates."
- http://www.consumeraffairs.com/news04/2005/bankruptcy_act01.html |
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| From: | ![[info]](http://l-stat.livejournal.com/img/userinfo.gif) orlitoq |
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| Date: |
August 24th, 2008 05:35 am (UTC) |
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Why are you surprised that ANY member of government took money from large corporations to make choices that do not in any way benefit the hoi poloi?
All politicians do it.
The only way politicians differ, is in which corporations it is that they take money.
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