Episode 72 • • 20:13 - 21:59
72: Obama Denver & the New World Order
Bankruptcy Reform Law of 2005, Credit Card Debt
A Federal Reserve member's paper suggests the 2005 bankruptcy reform law is a primary cause of the current economic crisis. By tightening laws to protect big banks and making credit card debt non-dischargeable, the law forced consumers to sell homes to pay off high-interest debt, destabilizing the housing market.