Republican hypocrisy on Bankruptcy bill -- action needed!!

[moggie12]

In their rush to jam the Bankruptcy bill down our throats, the Republicans are putting themselves on record as being the world's biggest hypocrites. I urge everyone stuck with a Republican senator to call and e-mail them to protest their hypocritical votes against Democratic amendments over the past few days. Also, please send letters to your local newspapers!!

This is a LTTE I wrote to my local paper -- feel free to use it. Or just take it as a starting point for your own letter. If anyone has another letter people can use, please post it!!


Sample letter:
"I am appalled by the actions taken by Senate Republicans over the past few days as they have sought to push through Senator Charles Grassley's bankruptcy reform bill. While I agree that people who recklessly run up bills should be forced to pay their debts, the bill as currently written sweeps away protections for worthy and unworthy debtors alike: Under Seneator Grassley's bill, senior citizens who have huge medical bills are treated just as harshly as 30-year-old yuppies who run up their credit cards charging big screen TV's and expensive vacations! Instead of rectifying this glaring defect in the bill, Senate Republicans have spent the last few days defeating amendments designed to protect people whose financial difficulties occurred through no fault of their own: To rush the bill through, Republicans have voted en masse against amendments that would have given some measure of protection to people whose indebtedness was caused by huge medical bills, identity theft, or the need to care for a sick family member. At the same time, Senate Republicans, with the exception of Lincoln Chaffee (RI), voted against an amendment that would have limited the amount of money wealthy people can put into trusts that allow them to shield their assets from bankruptcy! They also voted against a so-called "homestead exemption" that would enable the elderly and those driven to bankruptcy by medical expenses to keep their homes. Meanwhile, wealthy people facing financial sanctions can legally shield their money by buying huge homes in Florida and Texas, states whose laws protect homes, regardless of the value, from being touched by the bankruptcy courts. Does this not seem hypocritical and unfair? Every last cent will be wrung from average Americans who've encountered severe problems, while those with substantial assets are allowed to shelter them?? Fat-cat executives who've driven their companies into bankruptcy will get to keep their mansions and their money while hard-working Americans who have had the misfortune to become sick or had some other tragedy befall them will be treated like irresponsible spendthrifts?? For the life of me, I can't understand how the Republican Senators could have voted against these amendments. What is our country coming to when we treat our fellow citizens this way? How could something like this happen in the US Senate??"



Thanks if you can take the time to do this -- and please keep this kicked......


Info sources:
http://nytimes.com/2005/03/04/business/04bankrupt.html
http://news.yahoo.com/news?tmpl=story&u=/latimests/20050303/ts_latimes/gopresoluteonbankruptcybill
http://www.nytimes.com/2005/03/02/business/02bankrupt.html

[sinkingfeeling]

1. Excellent letter. Hope it is published real soon. Do you mind if

I borow from it?

[moggie12]

2. Please do!!

The more letters we get out there the better!! Grassroots action is what is needed at this point....

[moggie12]

3. Cleaned the letter up a bit from what I first posted

I am the Queen of bad syntax and grammar -- the version posted now may be a little easier to read.

[Snotcicles]

4. I wonder who wrote the bill for Grassley Because he is one

dumb asshole. All the rest of the repukes must have turned it down and forced him to put his name on it.

[rockedthevoteinMA]

6. Ted Kennedy said in open debate on CSPAN

the other day that the credit card companies wrote it, and brought it to Congress. :grr:

Wish us citizens could do that!

[Snotcicles]

7. Flash a couple mill. at one of them and see how fast shit happens. n/t

[moggie12]

10. I missed that -- but that figures, doesn't it??

Us citizens are up shit's creek.

[rockedthevoteinMA]

11. Great LTTE moggie12!

If you want, Kennedy's statements from the floor is available at his website - he was great. http://kennedy.senate.gov/index_high.html

Mr. President, we have a lot of urgent problems pressing this nation and this Congress. We have urgent problems with joblessness. We have urgent problems with healthcare. We have urgent problems with education. We have urgent problems dealing with poverty. We have problems that go to the heart of fairness and opportunity in this nation. These are real problems of real people. They test whether our commitment to America's core values is as important to us as we say it is.

But we aren't spending this month on any of those issues. We are spending most of the time between now and the March recess on a bill that does nothing about any of these problems, that does nothing for Americans facing job problems and health problems and education problems. We are spending our time on a bill that was written by the credit card industry for the benefit of the credit card industry. We are spending our time on changes in the bankruptcy laws which were opposed by the two distinguished National Commissions which studied those laws during the 1970's and 1990's.

This is a bill which is opposed by a long list of organizations representing many, many millions of real people. Organizations representing workers. Organizations representing retired Americans. Organizations representing consumers, women's organizations, civil rights organizations, a large group of distinguished law professors, 1,700 prominent doctors around the country and even some financial service organizations who are truly responsible lenders and care about their customers.

People like the CEO of I.N.G. Direct, the sixth largest thrift institution in the nation and people like the CEO of the second largest credit union in the U.S., the North Carolina State Employees Credit Union.

Here is what the CEO of I.N.G. Direct told the Committee about the bill:

The one-sided provisions of this bankruptcy legislation are bad news for consumers. But they are also bad news for the financial services industry. Consumers are our customers. By creating a form of debt imprisonment, this bill will hobble the most important player in the world economy -- the American consumer.
(Much more at link)

[Jacobin]

5. Thanks for your activism on this issue

1.6 million families a year are faced with the prospect of financial ruin, most because of problems beyond their control. This safety valve has been around since we came here from europe....this protection is in the constitution...no debtor's prisons.

This bill will be as close to a debtor's prison as the whackos in congress can get.

We truly have the best democracy money can buy.

I'm more and more appalled each day by the witless, gutless, bribed congresscritters who have managed to squirm into washington. Most are beyond redemption.

[Deja Q]

8. What a cow.

Anyone who loses a job becomes a victim, even if they are a 'yuppie' or anything else. Our society is based on so many random elements...

And how does the cow feel about Reagan, who started the US debt mess and Bush II who seems to want to ram it home for good.

Fuck 'em all, sorry.

[moggie12]

9. Oh, I thought you meant me

I was wondering how you knew what I looked like. True, I've put a few pounds on in the last ten years, but still, "cow" seemed a bit much.

[Jacobin]

12. Look at what you can buy in Washington for $85 million!!!

Howard needs to take up an internet PAC collection to un-bribe congresscritters back to reality. Guess we'd need to get a fleet of corporate jets to fly them around in too.

[moggie12]

13. Anybody want to help expose GOP hypocrisy? Anybody? Anybody?

[moggie12]

14. This bill has not been passed yet!! There is still time to fight it!!

It will be debated Tuesday, when Dems are expected to offer more amendments. PLEASE, PLEASE, PLEASE, bombard your legislators with e-mails and faxes and call Monday!!

There is one financial company that is standing up and saying this bill is wrong -- ING -- where I will soon be switching my 401K!


This guy says this bill is ".. a bit like using a cannon to kill a mosquito."
http://www.delawareonline.com/newsjournal/business/2005/03/05ingheadbankrupt.html

Snip:
"Arkadi Kuhlmann, CEO of ING Direct, this week came out against proposed federal bankruptcy law changes that Delaware's credit card banks have long favored. At a news conference Tuesday with Senate Democrats in Washington, Kuhlmann criticized as anti-consumer the proposal to force more people who file for federal bankruptcy protection to repay some debts.

ING Direct took out an ad in The Washington Post highlighting its opposition, and Kuhlmann sent a letter to the American Bankers Association calling on the industry's leading trade group to rethink its support of the bill under consideration by the U.S. Senate.

Kuhlmann is against the legislation partly because it lacks what he sees as necessary consumer safeguards, such as an exemption for people in debt as a result of identity theft. He also objects to the bill because it doesn't rein in "aggressive" lenders who entice consumers to take on too much debt.

.....The changes to the bankruptcy law have long been supported by the financial industry, including credit card issuers such as Wilmington-based MBNA Corp. The bankruptcy law changes are seen as most beneficial to so-called unsecured lenders, mainly credit card issuers who don't typically receive collateral for loans. ING Direct has a stronger hold over its borrowers because it does secured lending mortgages, in which borrowers pledge homes as collateral.

[merh]

15. Email your senators - sign the Petition calling for a filibuster!

Let them hear from you! Take action today, please....

Is your Senator in debt to big banks and credit card companies?

Politicians have used big banks and credit card companies as their private campaign contribution ATMs. Now many of our elected officials are using policy paybacks to make good on the debt they've racked up with these cash advances. And they're sticking low- and moderate-income people with the bill.

This week, the U.S. Senate is debating bankruptcy "reform" legislation that will make it harder for low- and moderate-income individuals to get out of debt even when blindsided by sickness, divorce, or job loss. These are the very times when people are most vulnerable to credit card companies' pitches to rack up debt.

Why would the U.S. Senate consider such legislation? Follow the money.

The big banks and credit card companies have contributed more than $101 million to federal candidates and party committees over the last six years (a Senate cycle). Of that, 36% went to Democrats and 64% went to Republicans.


http://ga3.org/campaign/senateindebt

"Should there be a filibuster of the bankruptcy bill?"

Why don't you tell Congress where you stand? Here, we'll make it easy for you. All you have to do is fill in one form now and with one click we will send your personal message to both of your senators, your house representative too. We'll even look them up based on your address and tell you who they are. Just a few simple words from you mean more than any form letter can. Please read the question carefully to make sure your vote matches your comments.

The Senate Republican leaders have now filed for cloture (a move to preclude a filibuter) on the bankruptcy abuse prevention act, which will be voted on this coming Tuesday. With the exception of a minor rewording of the definition of "special circumstances" every proposed amendment, including restrictions on predatory lending practices and corporate retirement fund theft so far has been blocked. If you think the bill should now be passed as is, then vote "No", otherwise if you believe it does not strike a fair balance between the rights of consumers and power of banks and credit card companies, then vote "Yes". Feel free to address any additional issues in your personal message. Even if you don't think your particular representatives would agree with your position it is important for them to hear from you.

http://www.usalone.com/bankruptcy.htm