President George Bush signed the new bankruptcy bill into law today, April 20, 2005. Bush already signed a landmark bill that makes it easier for defendants to move multimillion-dollar class action lawsuits to federal court. Playing directly into the hands of predatory lenders such as William Aldinger’s HSBC (Household International) Bush fails to realize the effects of predatory lending. “It is a known fact that many Americans are one severe medical illness or catastrophy away from bankruptcy” said advocacy organization Household – HSBC Watch. “Bush played right in to the hands of big business while sacrificing the average hard working American. Any legislation backed and supported by predatory lenders such as the former Household International should never pass, but it is too late now” said the group.
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There’s a good reasons why it is called “BARF”. Terrible. Backed by the credit card companies and the big banks, which poured huge amounts of $$$$$ into Congress’s coffers.
Our progression to a two class society is now well underway.
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