debt and bankruptcy

Doug Henwood dhenwood at panix.com
Sat Dec 12 11:39:31 PST 1998


rc&am wrote:


>does anyone have any take on the relation between bankruptcy laws (for
>those who may use toher people's labour) and debt (whihc applies to
>everybody else)??
>
>i have some notion this is vastly different, but beyond this...

It's pretty simple: when people get too deeply into debt, they sometimes file for bankruptcy. Personal bankruptcy laws in the U.S. are probably the most indulgent in the world, though our Congress is trying busily to change that, using a bill literally drafted by a law firm for the credit card industry.

Doug



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