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Bankruptcy Reform Law - A Political Cost To Hurting Consumers?

By M. Stan Herring

Credit Slips is a wonderful blog written by professors about consumer issues. The most recent post is by Elizabeth Warren, a Harvard professor. The title is The New Politics of Bankruptcy.

We recommend you read this article as it discusses the beginnings of a backlash against those in Congress who voted for the change in the bankruptcy law that has harmed so many consumers across the country. Here is a brief excerpt:

Recently Albert Winn, a long-time Congressman from Maryland, was challenged in the primary for his seat. His opponent, Donna Edwards, campaigned on several issues, but among the most prominent was her opponent's vote for the 2005 bankruptcy legislation. He had ignored the needs of his constituents, she argued, and favored the financial interests whose executives (not coincidentally) gave his campaign financial support. Ms. Edwards defeated that incumbent in a landslide (60%-32%).

Read the rest of this article and be sure and let your elected officials what you think about them not taking into account the needs of consumers. The big banks may have the money, but we still can be felt by voting and expressing our opinions....

Full post as published by Alabama Consumer Blog on February 24, 2008 (boomark / email).