Republicans and Bankruptcy‏

http://en.wikipedia.org/wiki/Bankruptcy_Abuse_Prevention_and_Consumer_Protection_Act

In 2005 the Republican Congress (House and Senate) and the Republican President passed Bankruptcy Reform. The new law made it harder for individuals to file for bankruptcy protection. People could no longer get out of their debts. Debts would remain and people have to pay no matter what. Credit Card companies were thrilled. Sticking it to people is what they do best. Keep people in debt forever. What could be better. That is the Corporate American way.


http://www.latimes.com/news/opinion/commentary/la-oe-gingrich-bankruptcy-20110127,0,4958969.story

2011 All the states are in trouble. Massive Debt everywhere. Now Republican Newt Gingrich and Republican Jeb Bush write the above story in favor of States being able to file for Bankruptcy. How Ironic.

If states could file bankrupts they can dump all their state employee contracts. They can dump all of their pension obligations. Republicans hate workers and pensions. If they have an opportunity to screw the workers they jump on it.

6 years earlier when it was individuals looking to get out of their debt Republicans said No Way. Now when it is states looking to get out of debt Bankrupts is suddenly a great option.

It must be the employees fault that the states raided (or under funded) the pensions. It must be the workers fault that the states allowed all the corporations to lay off everyone and send the jobs overseas. Killing the tax base.

When Wall Street is in trouble it is fine for Republicans and Democrats to bail them out. Nobody makes them pay for their debt. No way. Sure they all pretend they hate the bailouts (wink wink).

But when it is state employees it is time to dump all the promises.