Thursday, September 01, 2005

Jerry Nadler is smart and wise

From Erik Engquist in Crain's:

Four Democratic members of Congress including Rep. Jerrold Nadler, D-Manhattan, plan to introduce a bill that would make it easier for victims of Hurricane Katrina to declare bankruptcy.

A bankruptcy reform law that passed earlier this year and takes effect on October 17 imposes new hurdles for people seeking to escape their debts through bankruptcy. Democrats had offered an amendment carving out an exception for victims of natural disaster, but it was defeated on a party-line vote.

The bill’s sponsors believe the measure has a better chance in Katrina’s wake.

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