Bankruptcy Law

It's occurred to me that a segment of our elite do not want to live in an affluent society any more. They find it difficult to deal with an educated middle class, (much less working class), that has its own self-interest. They look with envy at those societies where everyone scrambles for crusts from the tables of the powerful, and thus leave the powerful to their own devices.

I remember reading a letter to the editor once in a community paper, Menlo Park, or Los Gatos or some such place, wherein the writer decried public education. Public schools cater to those who do not have a chance in our society. They are taught that they do. They therefore develop untenable and difficult expectations. So much easier if we just did away with the whole thing and educate our own children privately.

I wish I had cut out the letter. Its always fascinating to listen in on the Rich when they think no one else is listening...

Its old news...but I wonder what conversations led to this?

"On October 17th, the world became a little less financially secure for all Americans.

The passage of [the new bankruptcy law] illustrates some of the worst aspects of our system of government. A law clearly harmful to the interests of the vast majority of the American people was passed due to the massive big money lobbying by the credit card and banking industry. ...

Many of the consumer and social protections we enjoy came out of the disaster of the Great Depression. Bank deposit insurance, favorable mortgage rules, bankruptcy laws and Social Security, all came to be as ways to transfer much risk from the individual to the government or large corporations that can better shoulder these economic gyrations. The change in the bankruptcy law is the first step in undoing this..."