Bankruptcy Bill Passes; Sis Loses Her Shit

More great fucking news today: it passed.

A 302-126 vote by the House sent the legislation to President Bush, who is eager to sign it, the biggest rewrite of the bankruptcy code in a quarter-century.

Oh, I'll just bet he is. It hasn't been since he sent our troops to die in Iraq using cooked intelligence that he's been able to destine so many people at once for utter misery with the mere stroke of his pen. I'll bet he'll be jerking it like a horny monkey all over the Oval Office until the paper comes across his desk, at which time a destitute single mother with no healthcare and a chronic illness will be brought in to be ceremoniously gang-raped by the entirety of the GOP leadership to celebrate their big honking success.

Debate in the House was acrimonious as Democratic opponents warned that the measure would hurt the economically vulnerable.

[…]

Opponents say the change would fall especially hard on low-income working people, single mothers, minorities and the elderly and would remove a safety net for those who have lost their jobs or face crushing medical bills.

The legislation "protects the credit industry at the expense of the consumer," Rep. Alcee Hastings, D-Fla., declared in House debate. "It will drive more Americans deeper into financial crisis and weaken the nation's economy and social structure."

But backers in Congress and the financial services industry argue that bankruptcy frequently is the last refuge of gamblers, impulsive shoppers, divorced or separated fathers avoiding child support, and multimillionaires - often celebrities - who buy mansions in states with liberal homestead exemptions to shelter assets from creditors.

Well, that’s a fair point. I can’t tell you how often I’ve thought about how important it was to screw single mothers, minorities, and the elderly, not to mention entire nuclear families who are devastated by crushing medical bills, or returning soldiers who were entrepreneurs before they left and failed businessmen upon their return, just to make sure MC Hammer didn’t get to keep his mansion.

Of course, there was a way to make sure that multimillionaires wouldn’t get to use homestead exemptions and little Joe Schmoe down the street who works at the mill would. In fact, the Democrats proposed 35 such amendments, including exemptions for returning soldiers and victims of identity theft. The GOP leadership, however, wouldn’t even allow a vote on any of them.

The GOP was almost shockingly vindictive with this legislation, including provisions such as the requirement forcing people in bankruptcy to pay for credit counseling. What the hell good is it going to do to compel someone who’s going bankrupt because of medical bills (which is the most common reason, by the way, not irresponsible spending) to attend credit counseling? And what the hell kind of bullshit is it to make them pay for it?! Unbelievable.

And you want to know the big savings we’re all getting from all of this?

Rep. David Dreier, R-Calif., said the legislation would save American families an average $400 a year in higher interest rates now charged to consumers to recoup losses from those who abuse bankruptcy proceedings.

Wow. $400 annually. So not worth it. $400 is a pretty small insurance policy to pay to make sure you’d keep your house if you were ever forced into bankruptcy.

The GOP isn’t really interested in saving American families $400, though, or anything else, for that matter. We all know what this is really about, and if you need any further evidence, juxtapose this:

It marks the second major change in law to benefit business since Republicans increased their House and Senate majorities in last fall's elections.

…with this:

After eight years of strenuous efforts by congressional backers, banks and credit card companies, the legislation was catapulted toward enactment starting earlier this year.

What a zany coincidence that all the strenuous efforts of the money grubbers couldn’t get them diddlyshit until the foxes were guarding the henhouse. Cocksucking dogwanking bastards. Goddammit, I’m sick to the bloody teeth of the GOP’s bullshit. Pricks.

As for the Dems who voted for this piece of swill, I’ll deal with you later.