Wednesday, March 16, 2005

 

Mastercard and Bankruptcy Laws

So, the new bankruptcy laws are now being voted into place. I work in a law office and the lawyers there say they’re not going to do anymore Chapter 7s. They say that the lawyer is now going to be responsible for the veracity of the information filed on the affidavit so they don’t want to file any more Chapter 7s… at least no more personal ones… the same rules don’t hold true for businesses – of course, NOT for businesses. Let the regular guys go under and bend, maybe break, under the strain of their debt, but heaven forbid if the business should have a problem.

I love how they pass a law so that Mastercard, Visa, and Discover are all protected… now they have to get paid, no debts are going to be excused, and yet no law is being passed to protect the young college kids out there from their aggressive marketing of their toxic credit cards to them. Nor are any laws passed about the commercialism that makes us all drown in debt. Why don’t we pass some laws to help us avoid GETTING into debt instead of trying to strong arm us into paying the damn debt that we were seduced into by corporations, advertisers, and friends of the Bush administration… (and all the administrations, I know it isn’t JUST him, much as he sickens me.)

It’s like they’ve got us from all sides… they want to market to us until they’ve sucked us dry, until we will spend the rest of our lives working at their lousy stores and factories just to pay all of our wages to them while they reach out and seduce new people into their webs. Do you realize that there will be suicides over this?! Young people who get themselves into deep debt by age 25 will see a gray future in front of them.. a future with no hope of digging themselves out of a hole, and they will kill themselves.

I am so glad that I will not be standing in the shoes of these men (who made these decisions) when that final (judgment) day comes because they surely will have to account for these decisions.


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