Lawyer Stephanie Rabiner has penned an interesting piece published today. It begins:
It's a common complaint amongst the broke -- you're simply too poor to file for bankruptcy. It may be true. New data submitted to the National Bureau of Economic Research suggests that the cost of bankruptcy will prevent between 200,000 and 1 million Americans from filing this year.
Part of the reason poor Americans have difficulty filing for bankruptcy, Rabiner writes, is because the Bush Administration pushed a "bankruptcy reform" measure through Congress which "added significantly more paperwork to the process, causing the cost of bankruptcy to skyrocket."
Ah yes, the Great Bush Economic Hangover continues. Wasn't trickle-down wonderful -- that one-size-fits-all magic cure that Mitt Romney wants to bring back to life again.
You can read Rabiner's full story here.