Econ-Atrocity: What’s missing from the new bankruptcy laws?
Wednesday, March 8, 2006Categories: News, Class, Consumption, Healthcare, Politics, Econ-Atrocity
By Helen Scharber, CPE Staff Economist
The new national bankruptcy laws that went into effect in late 2005 prompted a big stir, not to mention a record-setting level of bankruptcy filings just before the laws changed. What is it about the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 that caused so much controversy? Like its Orwellian cousins the Clear Skies and Healthy Forest Initiatives, this act—whose very title suggests it will enhance consumer protections—does anything but. Indeed, the problems with this new law have much to do with what it does not include.
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