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Article: BANKRUPTCY REFORM BILL IS A BUST LET CREDIT CARD ISSUERS PROTECT THEMSELVES WITH SOUND LENDING PRACTICES, NOT BY RIGGING BANKRUPTCY LAW IN THEIR FAVOR.(Opinion)(Editorial)
- Article from:
- The Wisconsin State Journal (Madison, WI)
- Article date:
- December 4, 2000
CopyrightCOPYRIGHT 2000 Capital Newspapers. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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When the credit card industry came to Congress to ask for help in collecting debts from deadbeats, Congress should have said:
It's not government's job to bail you out. Why don't you tighten up your own lending practices?
Instead, Congress let the industry turn a bankruptcy reform bill into a debt collection assistance plan.
That's why, when the Senate goes back to work this week, it should vote down the bankruptcy reform bill and spare President Clinton from following through with his threat to veto it.
The bill, already passed by the House, is touted as an answer to the questions created by a rapid rise in the number of petitions for ...