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To: long-gone who wrote (12512)	6/2/1998 6:23:00 PM
From: Little Joe	Read Replies (1) \| Respond to of 116796

Richard: I have a good friend who works at the bankruptcy court. She advises me that many bankruptcies do not have much to do with people falling on hard times. They find that the bankruptcies increase when credit is free and the banks aren't so particular about who they lend to. Many of these people have filed for bankruptcy several times, because it is so easy. Our legal system has made it easy and painless to file bankruptcy and the d--- fool lenders lend to folks who have bad credit when money is free. My wife and I just received offers in the mail to have one hundred dollars credited to our account if we would open a credit card account. Live long and prosper, Little joe

To: long-gone who wrote (12512)	6/2/1998 11:28:00 PM
From: PaulM	Read Replies (2) \| Respond to of 116796

Richard, 1.37 million bankruptcies per year works out to one half of one one percent of Americans (or 1 in 200) going bankrupt annualy. And that counts all 280 mill Americans, when in fact the number of adults and working households is significantly less than 280 mill. The numbers are NOT just a reflection of how easy it is to use the bankrutpcy laws. The banks could remedy that themselves by witholding credit from excessive risks. In fact, the numbers are another indication of the enormous gap between the have's and have nots in America. Note especially Visa's interpretation of the economy as the "soaring stock market." And imagine what it will be like when market isn't soaring.