Crush the Pricks

From Matt Yglesias:

"Near the end of a long somewhat equivocal post on the pending bankruptcy bill, Jane Galt makes an important point: "easy bankruptcy is one of the great unrecognized strengths of the American economic system. Easy bankruptcy is what frees people to be entrepreneurs, to take risks without fearing that one wrong move will destroy them forever." Quite so. She should also consider taking on the point that insofar as the current system really is prone to abuse, the bill in question largely fails to halt that abuse since Republicans would never do anything to make life harder for rich people. I was a little wishy-washy on this topic as of a couple of months ago, but when you think about it the whole idea is really moronic."

Speaking as a potential victim of Bush's bankruptcy bill, I would say that it is not only a moronic idea and a sop to banks who want to gain their freedom to take huge risks by spoiling everyone else's; but it is, like Social Security, a moral issue for the Democratic Party. In this one you line up with the working people and the poor, or you line up with Citibank. There's no middle position here. Now a lot of us are already taking it in the ass with punitive fees from credit card companies, and thanks to an earlier dereg bill a lot of us are also in deep to payday loan people. (Including many troops that the administration supports--except when they need actual help.) This bill is pretty much legalized pillage, and any Democrat who votes for it needs to lose his plum committee assignment immediately. He needs to get a primary challenge. He needs to lose, and he needs to go to hell.