Analysis: Flaws in new bankruptcy law

http://feeds.bignewsnetwork.com/?sid=95f5fa34bf5bffd3
The new U.S. bankruptcy law is likely to hinder entrepreneurs and the self-employed whose inventions would boost the economy and create jobs, a report says.

Robert M. Lawless, a professor in the University of Illinois College of Law, said Friday that the government has significantly undercounted the number of bankruptcy filings arising from failed businesses, leading to false assumptions about the profile of many debtors.

The new bankruptcy law does not take into account the phenomenon of the serial entrepreneur, he said. Most entrepreneurs go through several business models before they are successful. Failure is part of being an entrepreneur. The harsh provisions of the new law will discourage people from opening new businesses and keep entrepreneurs who do fail in a business from starting anew
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The bankruptcy bill was to protect Big business... Bush's monopolies and Robber barons...

for the admin hailing that as a bright spot.:eyes:

Gee whiz by golly, Republicans favoring the rich who grease their palms exclusively and dissing the middle class and poor, while scaring everybody about terrorism even though they don't give a tinker's damn about our fate? Man, there is a shocker.