CSPAN2 Key Capitol Hill Hearings April 2, 2015
Solidly middleclass folks and more than 90 in bankruptcy because of a medical problem, a job loss, or a family breakup. The squeeze on the middle class was getting tighter, and more and more families were deep in debt. Bankruptcy was their last option to scratch their way back to dead flat broke and tried to build some kind of future. Credit Card Companies saw this and they figured out that they could boost the profits if the squeeze these people a little harder. So they wanted to change the bankruptcy laws so that hundreds of thousands more people every year would be locked out of bankruptcy ...