Warren baits Biden with proposal to roll back 2005 bankruptcy law
We remember this law. It was passed as the clouds of the coming financial crisis gathered. We remember thinking that credit card companies were battening down the hatches (as best they could) with the help of politicians. (Yes it was 2005, and yes we were worried about a coming financial crisis even then.)
(From Fox News)
Sen. Elizabeth Warren unveiled a new proposal on Tuesday to overhaul the nation’s bankruptcy laws, reigniting a decades-old feud with 2020 Democratic presidential rival Joe Biden with her push to roll back changes made in the landmark 2005 law.
Under the plan, Warren, a fierce consumer advocate and one of the foremost experts of bankruptcy law in the country, said it would be easier for those who are in debt to obtain relief through bankruptcy and would protect peoples’ property, including their homes and cars, “so they can start from a firm foundation when they start to pick up the pieces and rebuild their financial lives.”