New Bankruptcy Law

Letters to Mish

Rich from Iowa :

...The bankruptcy bill is the worst piece of legislation ever purchased in the history of the United States. Not only is it a sham, it proves that the Congress and the Presidency are both for sale. Price for a bill these days: $400 million will get you whatever you want....

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...is the worst piece of

...is the worst piece of legislation ever purchased in the history of the United States

Now that's an accomplishment! The bar for this standard is very high.

What a load of crap. Of all

What a load of crap. Of all the bad things Washington can possibly do, making it harder to file bankruptcy is pretty bloody far down the list.

I agree that Congress was

I agree that Congress was too hasty in formulating this legislation. Makes you wonder who benefits in business AND politics? Maybe the previous law needed reform, but now that we have the new law, its time to go to work on usurious rates…no?