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View Diary: Neoliberalism Defied? The Argentine "Miracle" (148 comments)

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  •  Ever Thus the Deadbeats Lebowski (none)
    What you describe sounds very familiar -- kind of like what the credit card companies are doing here.  I know this guy who is a framing carpenter.  In California -- with a California cost of living -- he makes about fifteen bucks an hour.  He's got two kids.  He has a gambling addiction (I'm helping my friend, his soon to be ex-wife, with her divorce settlement that's how I know these things).  Our carpenter got twelve credit card companies to give him credit cards, each of which he charged up to the limit.  No way this guy could pay his rent, support his kids and pay off $60k in credit card debt.  So he declared bankruptcy.

    Now MBNA (Working Assets Visa), et al. want to "reform" the bankruptcy code so that it's effectively impossible for people like this carpenter to discharge their debts in bankruptcy. These banks want their irresponsibly lent "assets" to have the same priority in bankruptcy as the carpenter's child support payments.  

    These are the people who really rule the country.  People like Bush and Clinton only get to act like they do.

    This aggression will not stand, man

    by kaleidescope on Sun Dec 26, 2004 at 11:58:48 AM PST

    [ Parent ]

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