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I know someone who was receiving new credit card offers a month after his bankruptcy was discharged. The banks extend the credit to the unworthy to enslave them financially and charge exorbitant interest rates on the debt. They make a ton of money. Now they want to make it tougher for the debtor to escape this financial bondage by rewriting the bankruptcy code in favor of the banks. That is shameful, and I hope
Congress wont cave in to their pressure. If the banks want to write off less debt, dont extend credit to a guy making $10/hour. Apply some rational standards as to who qualifies for credit cards.

The whole system is out of control. I don't see a solution that doesn't entail a lot of pain, grief, and suffering. That 10 buck an hour guy has kept some 20 or 30 dollar an hour guy employed by spending on his credit card. Cut him off from credit and the people his credit has been employing will be out of work. Keep him making payments he can't afford and the result is the same since he can't buy anything new with new credit. From my point of view (and I'm not anything close to an economist so it's not really valid) it looks like disaster somewhere down the road.