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Impeach George Bush


Bankruptcy Reform - the Next Step in the Clinching America's Future

Bankruptcy has been a traditional way of releasing consumers and corporations from debts while allowing them to remain alive. It's better than the ancient system of imprisoning them (as is forbidden by the Consitution...). But our current Congress wants to change that, making it impossible for lower-income families to declare bankruptcy - but allowing companies to do it more easily.

Source: TheTip, 2002-11-11

Candidate: The FED

Under pressure from the Banking Industry, the Republican Party will soon be pushing through a Bankruptcy Reform act that will make it nearly impossible for lower-income families and persons to declare bankruptcy and start anew.

The only people this helps are the nations wealthiest corporations, the Banks like Bank of America.

Please write your congresspeople and senators to express your concern over this bill which, instead of creating a more fair bankruptcy process is a clear attempt to increase the stranglehold that the Banking Industry has on American Consumers as it turns its risk portfolio from high-yield corporate debt to low-yeild consumer debt.

Now that the congress has turned republican, you can expect it to be on the floor as soon as possible.

The senate review of the bill can be found at:

http://www.senate.gov/~rpc/rva/1062/1062297.htm

In particular, it prevents people who are capable of paying 10,000 from filing bankruptcy no matter how much they owe.
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User Originated Comments:

From: a citizen
2004-11-03 22:12:10
nothing is done to help the poor and educate the
consumer about the risk of credit card use and how
to manage without it
instead the government
is handing out credit cards to everybody to watch
them suffer in debt until the day they die
From: Pat
1999-11-30 00:00:00
this is an outrage. while bush and his cronies run
around, trying to get other countries to forgive
iraq's debt, he's putting the squeeze on his own
people. what a jerk.
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The bankruptcy reform laws are a fair revision of a bad system.
The bankruptcy reform laws are a clear partisan special-interest group led attack on private citizens by the banking industry.

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