Credit card company executives are laughing at you right now. The bankruptcy bill they made the biggest piece of lobbied legislation in HISTORY has passed in the Senate.
This only benefits the credit card companies, who claim that something must done about skyrocketing bankruptcy claims. SO STOP ISSUING CREDIT CARDS TO EVERYONE WITH A SOCIAL SECURITY NUMBER. They don’t want to change their behavior because profits are going through the roof. Let’s make the ordinary guy pay.
The measure would ease some requirements for creditors and enable credit card issuers, retailers and other lenders to recover more of what is owed them.
But those with income above the state’s median income who can pay at least $6,000 over five years ? $100 a month ? would be forced into Chapter 13, where a judge would then order a repayment plan..
Senators no longer need to hide their corporate pandering: they’re doing it right in your face! The top ten bankruptcy states are red states that put Bush and other Republican Senators in power. They’re sending a big fuck you to their constituents who are so stupid that they will continue to vote for them because they don’t want some woman across the street to get an abortion.
Here’s a picture for those of you who still don’t get it:
This may come as a shock to many of you, but MBNA and Citigroup are the number five and six biggest Republican Party donors, respectively.