Bush bowed to the credit institutions changing the bankruptcy laws [The 500-page bill was largely written by the financial interests, who have spent $40 million and eight years lobbying Congress for a measure to make it more difficult for individuals to escape debt repayment. The law imposes a two-stage means test on bankrupt debtors that will reduce the number permitted to file for bankruptcy under Chapter 7, which provides for liquidation of most debts, and force more debtors to file under Chapter 13, which requires significant repayment.] (despite studies the vast majority of bankruptcies were legit) to make declaring so almost impossible and even if you did you were still liable for the debt. This flys in the face of credit institutions piling fee after fee on credit card debtors. Credit cards being the most profitable part of the banking business.
A supreme court 1978 decision stated that a credit card business rules were determined by the home state, prompting Delaware to change their laws allowing credit card companies to pretty much charge what ever they wanted thus becoming the credit card capital of the East coast.
The recent sell off of Bear Sterns bank to prevent it failing completely, CEO James E Cayne had a total compensation $28.40 mil this year and a 5-Year Compensation Total $132.14 mil. Just think how much he would have made had he not driven the bank into the ground.
The Bush administration continued and expanded the policy of allowing companies to use money that was supposed to be set aside for retirement plans for company investment ignoring the fact that if the company than goes out of business the retirement plan is left underfunded and employees that have paid into the system are left with nothing.
Can’t sue drug companies
Drug Company Profits Soar Under Medicare Drug Plan
Today the Democratic Truth Squad released a new analysis that reveals pharmaceutical industry profits increased by over $8 billion in the first six months after the Medicare drug plan went into effect. While families struggle to pay medicine, the often shady profit practices of drug makers mean big bucks for the pharmaceutical giants. The US has 6 times more MRI machines than Canada adjusted for population. Our present medical system is like an all or nothing scheme. If you have insurance, and many have two if both spouses are working, you have %100 coverage so they don’t care what the hospital/doctor does and the shotgun approach is used in diagnosis. The doctors claim if they don’t and miss something no matter how remote, they get sued where in the doctors lose, the patient loses and the Lawyer wins (again).
Media is run by big business and therefore report only what is good for them.