Bankruptcy Reform
* President Bush has had a run of luck and good timing, but that run may be over with the soon-to-be enacted bankruptcy “reform” (“Senate OKs Strict Law on Bankruptcy,” March 16). This law will likely take effect at the worst possible time--just as the recession hits--putting peoples’ homes and other assets at risk when they may need protection most.
Further, this will be the first recession the nation has experienced since Bill Clinton’s welfare “reform” of five years ago, which put time limits on welfare benefits, so people burdened by debt may also be going hungry.
It all adds up to another one-term Bush. Jeb, you’re up!
PAUL GULINO
Irvine
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* If Congress won’t allow some sensible controls (such as parents’ signatures) on issuing credit cards to minors, will ignore what amounts to usury on the part of many lenders and continues to ignore the reality of the marketing of credit cards as though they were some sort of cheap delicious candy, what hope is there for the average consumer?
The fact that so many senators and members of the House support new bankruptcy laws tells me that a great deal of money has been paid and a great deal of influence put to use to bring about this result. I shouldn’t have been surprised to see the overwhelming support for this bill, but I was.
However, skepticism as to the good intentions of politicians has brought me back to my senses, and I’m over the shock now.
MORTON SCHAEFFER
West Hollywood
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