Included in his misleading is demonizing billionaires and criticizing Joe Biden for voting for the 2005 bankruptcy bill.
In the 2016 primary, I voted for Bernie Sanders. This time around I hear a Bernie Sanders who sounds envious, angry, and who is misleading.
This is America where citizens have the right to follow their American dream. If that means becoming a billionaire, then it should not be demonized. Yes, billionaires should pay their fair share of taxes, but complaining about billionaires and corporate America buying Congress is not the real problem. The real problem are those in Congress who allow themselves to be bought.
Bernie Sanders’ Criticism of BAPCPA
Bernie Sanders complains about the bankruptcy bill that Joe Biden voted for. The Bill passed in 2005. Sanders’ complaint is that it makes it more difficult for people to discharge debts, and he blames creditors for wanting the 2005 Bill. Sanders omits how that law provides protection for consumers who use attorneys to file for bankruptcy.
Creditors had a right to complain about bankruptcy law leading to the 2005 Bill. What Congress gave to creditors and debtors is requirements that lawyers who file bankruptcy petitions for clients must personally vouch for the accuracy of all the information their clients provide. That was the root problem, and it harmed creditors and debtors.
A reason given in the U.S. House of Representatives Judiciary Committee Report 109-031 for the need for The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, (BAPCPA) was;
“A civil enforcement initiative undertaken in 2002 by the United States Trustee Program (a component of the Justice Department charged with administrative oversight of bankruptcy cases) has consistently identified such problems as debtor misconduct and abuse, misconduct by attorneys and other professionals, … “