[Mamzelle]

As the banks give credit now to the obviously uncredit-worthy, conservatives should oppose any change in the bankruptcy laws.

To those that argue "personal responsibility"--it is also the personal responsibility of those issuing credit to do it the right way--to only lend money to those with a reasonable expectation of keeping up the payments.

When starting out in my own life--credit had to be earned over time and was hard to come by. Would I be in as good a shape as I am if I had been offered credit when I was so immature, had no income, had been tempted with expensive goods and promises of "easy money"...would you?

[bvw]

Especially since the Fed, the Treas, the Exec, Freddie and Fannie and the banking houses have all conspired to hop up the economy on the Nitrous of very low rate fiat money. (As Mr. Brinker has pointed out that rate is negative -- they are paying you to take it, when adjusted for inflation.)

Much of that that borrowed "equity" from mortgages and credit cards sluices into the stock market were it pumps up valuations beyond any reasonable reckoning. The beneficiaries of that roll-up of fiat money in stocks are the very people exempted from the harshness of the proposed bankruptcy laws -- the corporate officers who draw down the fiat wealth in blue-sky salaries and other cash-out mechanisms.

A meteoroligist would call the pattern a developing massive inversion. The kind of weather in which F4 and F5 tornados sprout like onion grass in the spring lawn.