REUTERS/Tim Shaffer/photo
The new bankruptcy changes that Congress just passed may force Hurricane Katrina victims to pay for homes and vehicles washed away in the ocean. They will not be able to file bankruptcy as people who have lost everything to such disasters have done in the past. They must spend much of their life paying for things that the disaster has taken from them, according to a report in The Wichita Eagle, Sept. 7.
When congress passed the new law, they were only trying to make bank and credit card PACs happy. The banks now have protection from ordinary citizens who try for debt relief. It saves the banks and credit institutions lots of money, but will just about ruin the lives of the victims in these tragedies.
Bank PACs bought their congressmen’s votes with millions in PAC donations. For example, Kansas’ own Rep. Todd Tiahrt accepted $24,500 from
AMERICAN BANKERS ASSOCIATION PAC (BANKPAC) .
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