Free Republic

  For Immediate ReleaseJuly 30, 2005 President's Radio Address      Audio      THE PRESIDENT: Good morning. This year Congress and I have addressed many key priorities of the American people and we're making great progress. At the start of the year, I urged Congress to ease the burden of junk lawsuits on American workers, businesses and families, so Congress passed, and I signed, bipartisan class-action reform. We called for restoring integrity to the bankruptcy process, so Congress passed, and I signed common-sense reform of our nation's bankruptcy laws. I requested vital funds for our men and women in uniform, so Congress...

<p>As a professor of legal ethics, I have long favored bankruptcy-reform legislation. I believe reform is crucial to restoring personal responsibility and to preserving integrity in both individual and corporate bankruptcies. Current law encourages "opportunism" that benefits a few unscrupulous bankers, lawyers and corporate executives at great cost to millions of honest consumers and lenders in the form of higher prices and interest rates.</p>