“The increase in Republican majorities in the Senate and House after the 2004 elections breathed new life into the bill, which was introduced in its current form by the chairman of the Finance Committee, Republican Senator Chuck Grassley of Iowa.[11] The bill was supported by President George W. Bush. Tom DeLay also championed the controversial legislation. The bill passed by large margins, 302-126 in the House[12] and 74-25 in the Senate[13], and was signed into law by President Bush.”

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

Sure some Dems voted for it, but it looks like, and I always assumed it was, a Republican backed initiative. No?

Why blame only the Dems?

As for the 2005 industry-written BK laws, as we undo one Bush-era own-goal after another, I wish someone would keep count.

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Barry, here’s a Warren presentation worth watching:
http://weaseldog.blogspot.com/2008/10/coming-collapse-of-middle-class.html

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JM Borchers and cinefoz write and think differently. I’d be very surprised if they’re the same people. And I do like the fact that Borchers thinks independently.

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If we say someone’s “talking their book”, we’re suggesting s/he has a motive for presenting their opinion beyond their earnest belief in what they wrote in the book. Maybe I’m naive. But, I just don’t see anyone on here doing that.

Apology excepted…Barry can post anythng he wants on the blog obviously and anyone can opine on it. I took JM to task for spinning a horrible datpoint in a positive way…that is what I call talking your book depending on if you happen to be bullish or bearish that week.

Did want to apologize for not taking your original post correctly. On rereading it, I see the criticism is of JM.

Sorry

Don’t mind you having strong views and voicing them. I think most everyone here knows it’s very bad and agrees with your overall view.

It just seems you have taken Barry to task for not posting every bit of bad news instead of posting on a variety of subject affecting the economy. I’m not interested in absolutely everything Barry posts. I just don’t bother with those I’m not interested in instead of criticizing him for it. It’s the variety of articles that makes the blog interesting.

But you are staring into a computer monitor to read blogs like this. Hmmm.

I take offense to that…talking my book would be getting on CNBC and telling peoplet to buy stock in XYZ for this or that reason, when I own it…or Bill Gross saying the Fed needs to bail out Fannie and Freddie so he will make a fortune. I rarely tell anybody what to do. I have a strong long term view and I invested accordingly. What’s wrong with that? I said on 1/2/08 on this blog I thought this would be the worst year in S&P history and lookie here, we are right there. Is Roubini talking his book? So if I talk without actually investing, that is ok? I’m not an academic…I’m not going down with the ship. Would you prefer that I flip my message every week like some other commenters?