Thursday, March 10, 2005

Biden and Lieberman help Republicans look after the rich

Joe Biden and Joe Leiberman helped the Republicans and credit card companies get the bankruptcy bill they wanted and paid for. Biden was reportedly encouraged by over $142K in campaign contributions by one credit card company alone; several are incorporated in his home state of Delaware.

Not only did 12 Democratic senators bravely defend the rights of credit card companies against the drepravations of the poor who held down credit profits to a mere 300% increase in recent years, but they also helped ensure that the rich would not have to suffer the same indignities. The bankruptcy bill ensures that Asset Protection Trusts will still be around to protect the assets of the rich from the invading hands of creditors and loosened the conflict of interest rules for investment banks over the protests of the SEC.

Credit card companies evidently know that the rich are too smart to pay their usurous interest rates and focused their attention on getting their pound of flesh from the poor.

No comments: