tag:blogger.com,1999:blog-5397103.post5088785031669540392..comments2024-01-02T18:05:23.666-06:00Comments on Streak's Blog: The sub-prime issueStreakhttp://www.blogger.com/profile/01443433745929880701noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-5397103.post-46738703427600298812007-09-02T22:04:00.000-05:002007-09-02T22:04:00.000-05:00Don't forget about the "Bankruptcy Abuse Preventio...Don't forget about the "Bankruptcy Abuse Prevention and Consumer Protection Act of 2005" passed by the Bush administration and the Republication congress. <BR/><BR/>http://money.cnn.com/2005/10/17/pf/debt/bankruptcy_law/index.htm<BR/><BR/>This legislation makes it difficult for people to file for Chapter 7 bankruptcy protection. Although I'm sure some people abused the system, I suspect most did not. For most people it takes just one job loss or one bad medical emergency not covered by insurance, or predatory lending practices. <BR/><BR/>This legislation is a boon to credit card companies who push credit cards onto people with little or no ability to pay. Remember the story about the college student who committed suicide over his high debt. <BR/><BR/>I'm just so saddened about the zeal and acquisition of wealth that has overcome America at every socioeconomic level.<BR/><BR/>Sad...Just plain sad...Anonymousnoreply@blogger.com