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Politics : Sioux Nation -- Ignore unavailable to you. Want to Upgrade?

To: Karen Lawrence who wrote (16634)	5/11/2005 3:20:39 PM
From: JakeStraw	Respond to of 361390

>>How wonderful that big corps can declare Chapter 11 while individuals no longer can. Individuals hardly ever declared Chapter 11... Businesses mostly used it. The new legislation forces people with incomes above their state's median to file for personal bankruptcy under Chapter 13, which requires repayment of a portion of debts. Current law allows consumers to avoid paying all debts by filing under Chapter 7. The change is likely to impact 3 percent to 10 percent of personal bankruptcy filers.

To: Karen Lawrence who wrote (16634)	5/11/2005 3:22:20 PM
From: James Calladine	Respond to of 361390

Yes, that would be a VERY attractive consumer Bankruptcy bill. You can take a huge chunk of your unfunded liabilities and shove them over to the government--WHO WILL THEN SERVICE THEM OUT OF TAXPAYER FUNDS! This so that your return from Bankruptcy can be facilitated and achieved at an early date! Totally amazing that this is just fine and totally justifiable (it seems) on a corporate basis (providing your bankruptcy is big enough)but entirely out of the question on an individual basis!!!! Does that say something about Democracy in America? Namaste! Jim

To: Karen Lawrence who wrote (16634)	5/11/2005 3:25:11 PM
From: geode00	Respond to of 361390

UAL has already defaulted. We're picking up billions in their pension liabilities. Their employees are also getting something like a 25% headshave. Their executives meanwhile...everything in their pension plan is peachy keen. You're right. Other airlines (Delta ready to go bellyup) will now consider dumping of pension liabilities in bankruptcy to the US Taxpayer and long abused employees a legitimate financial tool to increase CEO and executive pay and parachutes. It's coming. I think after Delta, American may be next. It's not capitalism, it's corporate welfare and pure corruption. LET THEM GO BELLYUP and catch the employees (SS never looked so good!) in a safety net. Break the trust of the executives pension plans and let them go look for a real job...washing dishes or cleaning toilets...that they're well-suited for. It's disgusting. Is it any wonder why hard working families in the US of A work like crazy and get more behinder...