Posted by Todd Zywicki:
A.P. Story on Bankruptcy Reform:
From the A.P., "[1]Bankruptcy Reform Close to OK in Congress":
"Bankruptcy legislation that could make it impossible for thousands of
people to wipe away their debts is nearing passage by Congress."
Harder, yes; "impossible" no. Where do they get this stuff? Are they
even trying for accuracy any more?
It goes on:
Between 30,000 and 210,000 people - from 3.5 percent to 20 percent
of those who dissolve their debts in bankruptcy each year in
exchange for forfeiting some assets - would be disqualified from
doing so under the legislation, according to the American
Bankruptcy Institute.
This reporter (Marcy Gordon) quite plainly has no clue what the bill
actually does. I can't even figure out what she thinks it does.
References
1. http://www.washingtonpost.com/wp-dyn/articles/A52024-2005Apr14.html
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