BANKRUPTCY "REFORM:" I'm deeply skeptical of the bankruptcy bill in front of Congress now, and this report on credit-card industry practices goes a long way toward explaining why. Credit extended to people who can't handle it, absurd hidden fees, high interest rates, etc.: There's a lot of scamming here. The argument, of course, is that people who sign up for credit card accounts ought to know what they're getting into. But shouldn't the companies that extend credit to people who obviously can't handle it be held to the same standard?
That the current bankruptcy reform bill is odious is it gonna pass? The entire blogsphere from the creepy freepis to the atrios lefties (that'd be me) agree that this thing is a give away to the credit card industry. I've agreed with Instapundit about once in my life, but he's right on on this one.
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