Not thinking correctly

I am completely out of it today. My head is quite the foggy mess due to my amazing lack of sleep from last night. The little one is sick still, and the flu-ish thing seems to be marching onwards as something asthmatic. That is par for the course at the moment. It has been at least 2 months since we were at the E.R., so at least we got that going for us....

I typically try to stay a-political on this here blog, but...

This current bankruptcy legislation that is about to go through is absolutely hogshit. Okay, so if I understand this correctly, the credit card companies and other creditors would like to make the process of declaring bankruptcy more difficult due to the massive amounts of money that they are hemorrhaging by people defaulting. This legislation, if enacted, would cause the process of declaring bankruptcy to drag on for possibly years and people who wanted to declare would have to go into individual arbitration hearings with each and every creditor that they currently owe money. I honestly do not have a problem with the idea of making people more fiscally responsible and making the process of declaring bankruptcy more ominous. My problem with this process is that the people crying the most for the reform are the ones who are lending to credit risks in the first place.

The creditors are crying foul that so many people are defaulting and they are losing money left and right, but aren't these same creditors the ones who are continually soliciting lines of credit to people with bad credit.

I know some people who are currently in a declared state of bankruptcy. That being said, these are good people who just over-extended themselves for a myriad of causes and reasons. Some of these reasons were self-inflicted and some were beyond their control. The decision to declare was a difficult and heart-breaking decision for all of the people who I know currently going through the process. It was not a decision that was made lightly or remotely easily. This declaration basically stated in a public forum and in a recorded manner that they were unable to be as responsible as they thought they could be. These people are still bombarded with "Got no credit? Got bad credit? No problem!" credit card offers from the very companies that are pushing hardest for the reform. I assume that most everyone who has declared bankruptcy is fairly similar to the people I know. I know there are people who are exceptions and are just bad people, who continually just waste money away. I think these companies need to realize that they are making poor decisions in their practice of lending to potential liabilities.

So, if they do make it more difficult to file for bankruptcy, they should also make it more difficult to lend money as well. Quid pro quo.