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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (24723)3/2/2005 1:31:24 PM
From: Ken98  Read Replies (1) of 116555
 
The new bankruptcy bill was bought and paid for by the big credit card companies, several of which are headquartered in Delaware. The fact that there is a loophole for these trusts should not be surprising because several of largest of the trustee institutions are likewise headquartered in Delaware.

Why do you think Sen. Biden voted to support this bill, notwithstanding his occasional populist rantings??

And, not too many folks with the wherewithall to set up one of these trusts is likely to declare bankruptcy with big credit card bills. This bill is aimed squarely at the schmuck making $50-100k carrying high credit card bills who loses his job.
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