Are you acquainted with our state's stringent usury laws?
Personal bankruptcy laws are a double-edged sword; while they provide a legitimate way out of desperate financial situations to individuals facing bad luck or genuinely poor business decisions, they also provide an escape clause to debtors who engage in irresponsible spending, thereby removing a disincentive for risky behavior. I'm of the opinion that the positive social benefits outweigh the possible abuses, as most liberals are about the various social safety nets we (used to) have in place in this country. Last year (or maybe earlier this year), the Republican majority was able to push through changes to federal bankruptcy laws that make it more difficult for individuals to file for bankruptcy (I don't believe that any corresponding changes were made to corporate bankruptcy laws, which is, you know, shocking ). This was a basically a freebie to the credit card industry–and yes, the credit card industry directly employs two-thirds of my immediate family, so I understand that
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