Bankruptcy

The other day a very liberal friend mentioned that half of all personal bankruptcy cases stem from medical emergencies (it turns out to be closer to 2/3). I jokingly argued from the right that this just showed the system was working. Being out of the country for the week I didn't catch on to the context of this new bankruptcy bill.

My initial blink is this bankruptcy bill is one of the most blatantly evil corporate give-away bills I've ever seen, even for this administration. But not wanting to just be a reactionary I looked around a bit more. Even Glenn Reynolds agrees:

As I say, people should have to face the consequences of their bad decisions -- but that includes their bad lending decisions, especially when the lending is, fundamentally, dishonest.

I assume that the Bush Administration is supporting this legislation, but I really don't see it as consistent with "compassionate conservatism." I see it, in fact, as consistent with the worst stereotypes about corporate-friendly Republicanism.

Not all Republicans fit the stereotype, but the crew in the White House certainly does.