They turned the bankruptcy courts into collection agencies for credit card companies. That means there`s less protection for victims of Katrina.
Nobody`s safe. Health insurance? That didn`t protect 1 million Americans who were financially ruined by illness or medical bills last year.
Many of these people are sophisticated business people for whom markets have reversed... They don`t need to know how to balance a checkbook.
A family relying on a teacher`s salary or a city employee`s salary is solidly middle class as long as that money`s coming in. When it`s cut off, they`re committed to financial obligations that will quickly turn them upside down.
Albany`s changes to the homestead protection are far more important in the long run than Washington`s changes to the bankruptcy laws, ... An increase in the state homestead exemption tells families: Keep your home safe; don`t keep borrowing against it.
The Two-Income Trap: Why Middle-Class Mothers and Fathers Are Going Broke.