Elizabeth Warren spoke Thurs, Sept 8 on The Al Franken Show. She's the Harvard law professor with a recent book on bankrupty which relates that the primary reason for bankruptcy is personal disaster: job loss, divorce, health crisis or natural disaster.
Yet, the new anti-bankruptcy bill, written by lobbyists for the credit industry prohibits using a natural disaster as an exception for bankrupty, meaning that even though you have no job, no income, no house, your debts and late fees pile up.
During the debate on the bill there was an effort to delete the clause about natural disasters, it was defeated with all Republicans voting against the ammendment. We need a hall of shame for those who voted against it.
Fortunately, we have an opportunity to revisit the issue, as new legislation is prepared to provide more flexibility for people facing bankruptcy.
See below
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