Hillary Clinton and the Bankruptcy Law

[illinoisprogressive]

At the Democratic debate last night, Senator Hillary Rodham Clinton said that she “fought the banks” on bankruptcy overhaul. She made the statement as part of her defense for taking campaign contributions from lobbyists and special interests.

Actually, Mrs. Clinton has a mixed record on the bankruptcy bill, which wended its way through Congress over the course of several years, and on fighting the banks, which are a major constituency and major source of campaign contributions in New York.

The bankruptcy legislation was sought by banks and credit card companies, which wanted to make it harder for consumers to use the bankruptcy laws to walk away from their debts.

As first lady, Mrs. Clinton worked against the bill. She helped kill one version of it, then another version passed, which her husband vetoed. As a senator, in 2001, she voted for it, but it did not pass. When it came up again in 2005, she missed the vote because her husband was in the hospital, although she indicated she would have opposed it.

http://thecaucus.blogs.nytimes.com/2007/08/08/clinton-and-the-bankruptcy-law/

[Sarah Ibarruri]

1. The group most affected by this legislation being passed.

The most group affected by this legislation being passed, have been women, who are also the poorest.

[goodgd_yall]

2. Credit card companies wanted the legislation because

bankruptcy, as it WAS, was the only thing standing between them and charging whatever fees and interest rates they wanted to. If they burdened people TOO much, they'd just discharge all their debt and the cc companies would never see their money again. Now, they have carte blanche.

[Democrats_win]

3. With the so-called "credit crunch" wonder if that bill actually helped these savages?

[MannyGoldstein]

4. The 2001 And 2005 Bills Were Almost The Same

And I'm pleased to report that both of my Senators - Kennedy & Kerry, actual Democrats both - voted against the infernal thing in 2001.

[goodgd_yall]

6. Leave it to Kennedy to always do the right thing

Not a Mass boy, but Feingold also voted against it.

[goodgd_yall]

5. The 2001 bankruptcy bill DID pass

It went back to committee before it went to Bush's desk and then 9/11 happened. It never was signed. The 2001 bill had an amendment added when it got to the senate. Upon passage there was squabbling over the difference between the bill the House passed and the Senate passed. The 2005 bill was even worse for debt-strapped Americans than the 2001 bill.

[ronnykmarshall]

7. But the real question is about botox???

[goodgd_yall]

8. What are you referring to, ronny?

:crazy: