Comments on: Obama proposes Bankruptcy law changes

By: AustinRoth

AustinRoth — Thu, 10 Jul 2008 05:18:37 +0000

Chris – we don't agree often, but I definitely do agree with you on this topic.

By: AustinRoth

AustinRoth — Thu, 10 Jul 2008 05:18:37 +0000

Chris – we don't agree often, but I definitely do agree with you on this topic.

By: superdestroyer

superdestroyer — Wed, 09 Jul 2008 21:01:22 +0000

Of course, in a few years after the changes in bankruptcy that force the credit card companies to severely cut back on issuing cards, everyone will see news stories about how minorities are not able to secure credit and cannot function in a modern society without a credit card. Look at what happen when the credit score became important to buying a house, people are more qualified to purchase houses but the housing market has died.

For once it would be nice if politicians did not sell ideas as being cost free.

By: superdestroyer

superdestroyer — Wed, 09 Jul 2008 21:01:22 +0000

For once it would be nice if politicians did not sell ideas as being cost free.

By: Polimom

Polimom — Wed, 09 Jul 2008 18:13:41 +0000

"Perhaps the credit card industry can do what the rest of America is forced to do..........Act responsibly."

Since the entire premise of credit card companies is founded on exactly opposite principles, that seems unlikely.

But I'm with ya.

By: Polimom

Polimom — Wed, 09 Jul 2008 18:13:41 +0000

By: Neocon

Neocon — Wed, 09 Jul 2008 18:05:37 +0000

Any bill that punishes the stupid credit card companies that give credit cards to dead people and college students like they are candy then whine about them not paying their bills is a bill that I support.

Perhaps the credit card industry can do what the rest of America is forced to do……….Act responsibly.

By: Neocon

Neocon — Wed, 09 Jul 2008 18:05:37 +0000

Perhaps the credit card industry can do what the rest of America is forced to do……….Act responsibly.

By: ljeff18

ljeff18 — Wed, 09 Jul 2008 17:09:29 +0000

On issues like bankruptcy–
In the face of angry voters, McCain must establish himself as a strong fiscal conservative or risk a backlash from his party.

In Orange County, CA, we are already seeing a backlash from donors against the party- they'll be stopping contributions in November if fiscal irresponsibility continues, and incumbent Republicans don't start acting like Republicans.
Here's a link to a podcast with the president of Red County and board members of the Lincoln Club.
http://www.greenfaucet.com/market-neutral-red-c...

By: ljeff18

ljeff18 — Wed, 09 Jul 2008 17:09:29 +0000

On issues like bankruptcy–
In the face of angry voters, McCain must establish himself as a strong fiscal conservative or risk a backlash from his party.

By: mikkel

mikkel — Wed, 09 Jul 2008 16:36:40 +0000

Chris, I agree. While I am pleased that Obama is at least making the first steps, the worst part of the bill was that CC bills aren't discharged. That's the whole point of bankruptcy. Ironically that provision has led to people paying off their credit cards even as they have their house foreclosed…and since most of the banks issuing cards are heavy into real estate the unforeseen consequences have hurt them way more than before the bill was passed.

Contrary to the popular spin that the system is full of abuse, a lot of bankruptcies are due to either health care costs or failed businesses. Indeed, a lot of studies have shown that the ability to get a clean slate is essential for a prosperous entrepreneurial society and suggest that draconian laws in Europe have severely hindered small business activity. This is why the greatest critics of the law that I've read have not been liberals but free marketers.

By: mikkel

mikkel — Wed, 09 Jul 2008 16:36:40 +0000

By: ChrisWWW

ChrisWWW — Wed, 09 Jul 2008 16:32:02 +0000

DLS,
McCain and Obama are already joining to give a break to the telecom companies.

By: ChrisWWW

ChrisWWW — Wed, 09 Jul 2008 16:32:02 +0000

DLS,
McCain and Obama are already joining to give a break to the telecom companies.

By: DLS

DLS — Wed, 09 Jul 2008 16:25:57 +0000

The question, again, is what other categories of voters-to-buy will be given similar breaks from their obligations as promises by Obama later this year.

By: DLS

DLS — Wed, 09 Jul 2008 16:25:57 +0000

The question, again, is what other categories of voters-to-buy will be given similar breaks from their obligations as promises by Obama later this year.

By: ChrisWWW

ChrisWWW — Wed, 09 Jul 2008 16:03:56 +0000

That bankruptcy bill was a travesty of American politics. Written by the credit card companies for the credit card companies.

It's good to see the prominent politicians willing to fight against it even after all this time.