The New Democrats......Party of Personal Responsibility

Ok, so 18 democratic senators caved under the pressure to allow the so-called Bankruptcy Reform Bill to go to the full Senate for amendments and a vote. After all, it has been 25 years since somebody cracked down on the abusers of the system. Upon reaching the Senate floor, where EVERY major Democratic amendment went down to defeat (with the help of various democratic senators), the bill was passed with a "healthy bi-partisan" majority.

Meanwhile, in the people's House, Adam Smith and his "New Democrats" were sending letters to Speaker Hastert, encouraging him to quickly move the Senate bill to the House so that they could show him how eager "New Democrats" are to prove that they are a party of PERSONAL RESPONSIBILITY. From the letter that Rep. Smith and 19 other "New Democrats" (including my tarnished hero, Jay Inslee) sent to the Speaker, "We believe that responsible bankruptcy reform embodies the New Democrat principle of personal responsibility, while at the same time adding important new consumer protections such as requiring enhanced credit card disclosure information and encouraging participation in consumer credit counseling."

Well I'm all for personal responsibility and preventing abuse of the system so I thought I would see who has been abusing the system. I figure a good place to start would be to look at the amendments that the "Old Democrats" in the Senate were offering up. Surely they would be all about helping the abusers shirk their personal responsibility.

Let's start with Ted Kennedy. Senate Amendments 28 and 29 were introduced by Teddy to exempt people whose bankruptcies were a result of unexpected medical costs.......... Defeated:
All Republican Senators voted against these amendments. Democrats voting against Amendment 28 were Biden, Carper, Johnson and Nelson. Democrats voting against Amendment 29 were Bingaman, Carper, Johnson and Nelson. Republican Sen. Santorum was absent from the votes.

Which class of "abusers" was our friend Russ Fiengold trying to protect?
Fiengold Amendment #17: To provide a homestead floor for the elderly.
This amendment would have ensured that no elderly person in enough financial pain to cause them to seek bankruptcy protection would lose their home..............Defeated:
Each and every Republican Senator, along with Jeffords (I) and Democrats Biden, Carper and Nelson, voted to reject this amendment.

Other amendments that would have sheltered other notorious "abusers" such as veterans and servicemembers, caregivers for ill or disabled family members, and people who are victims of identity theft also went down to defeat.

So how was personal responsibility rewarded in this bill? Well if your were responsible (and wealthy) enough to move your assets to a "protected trust", you are still safe from the bankruptcy laws thanks to the defeat of:
Schumer Amdt. No. 42; To limit the exemption for asset protection trusts.

By the way, if you are filing bankruptcy because Ken Lay and the boys were "responsible" enough to hide their money in a protected trust while destroying your 401K and pension funds, don't be looking for any cover here:
Durbin Amdt. No. 49; To protect employees and retirees from corporate practices that deprive them of their earnings and retirement savings when a business files for bankruptcy...........REJECTED


How about the part about "requiring enhanced credit card disclosure information and encouraging participation in consumer credit counseling"?

Akaka Amdt. No. 15; To require enhanced disclosure to consumers regarding the consequences of making only minimum required payments in the repayment of credit card debt, and for other purposes.
REJECTED

And a new clause has been added that REQUIRES those who file for bankruptcy to enroll with some form of consumer credit counseling within 180 days of the discharge of their debt.

Well if your are as happy with our "New Democrat" defenders of personal responsibility as I am, why not drop them at note and encourage them to keep up the good work?

Rep. Ellen O. Tauscher, Rep. Adam Smith, Rep. Ron Kind, Rep. Artur Davis, Rep. Carolyn McCarthy, Rep. John Larson, Rep. Stephanie Herseth, Rep. Dennis Moore, Rep. Mike McIntyre, Rep. Joe Crowley, Rep. Jay Israel, Rep. David Wu, Rep. Diane Hooley, Rep. Melissa Bean, Rep. Jim Davis, Rep. Harold E. Ford, Jr., Rep. Ed Case, Rep. Jay Inslee, Rep. Shelley Berkeley, Rep. Gregory W. Meeks. I also understand that Rep. Rick Larsen is leaning in support of this bill.

Chad (The old Left) Shue