Thursday, March 03, 2005

No Bankruptcy Protection for Troops

From Bloomberg News:

"U.S. Senate Republicans blocked an effort by Democrats to shield military personnel from changes to bankruptcy law that would force more debtors to repay their creditors.

The Senate voted 58-38 today to defeat the amendment, one of dozens that Democrats said they will introduce this week to shield senior citizens, debtors with medical bills, and others from the rewrite of bankruptcy law, which is backed by credit-card companies such as JPMorgan Chase & Co. and MBNA Corp."

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