Bankruptcy Filings Spiking
“Only in some bizarre universe are spiking bankruptcies, foreclosures, and unemployment some sign of a rebounding economy.”
“Of course this [the 2005 tougher bankruptcy laws] shifts the burden completely on the consumer instead of lenders actually spending the time to be more diligent. … The biggest proponents of the bill were the credit card industry. In fact, the credit card industry spent 8 years and $100 million in lobbying for this effort.”
