Bankruptcy: It Comes Down to Responsibility

Summary

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The debate over bankruptcy is a difficult one to judge because it pits two groups of losers against each other. On the one hand are people who spend recklessly with credit cards and then expect to get away without paying. On the other are credit card companies who in recent years have demonstrated their integrity by, for example, sending tempting offers of easy credit to my daughter when she was 11.

I haven't had this much trouble knowing whom to root for since the Iran-Iraq war.

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Extract

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Bankruptcy: It Comes Down to Responsibility

My only fear is that a third group -- people who suffer sudden medical problems or a job loss -- will end up being the real losers.

Sometime within the next month, the House is expected to pass a 501-page bankruptcy re...

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