Financial Lobbyists Seek Bankruptcy Overhaul
August 14, 2000
Return To Archives
While Congress is in recess, financial lobbyists are voicing their concerns over bankruptcy legislation, according to the Congressional Quarterly. Many of those lobbyists said yesterday that they are tired of seeing bankruptcy overhaul legislation bogged down for months in conference committees. They have said that if it isn’t freed soon, they will push for alternative ways to move less controversial parts of the package (H.R. 833). At a press conference, Bond Market Association officials “urged Congress to complete work on the effort to overhaul the nation’s bankruptcy laws.” The legislation “would allow for the termination of certain financial contracts and products when a person or firm declares bankruptcy.”
Editor: For the sake of American consumers, hopefully time will run out for this Congress to enact any so-called bankruptcy “reform” legislation this year.
