Bankruptcy Stance Overlooks Tradition
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Regarding “Bankruptcy Bill Needs Reforming” (James Flanigan, April 10):
Flanigan overlooks the importance of a fundamental American tradition: to work hard and to take responsibility for our actions and their consequences.
There are simply too many irresponsible bankruptcy filings today. They hurt our community and society as a whole.
The vast majority of our citizens are hardworking people who manage to overcome the obstacles they encounter. They will not declare bankruptcy under any circumstances
We must promote and encourage these values.
Henry Y. Hwang
San Marino
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The proponents of the new bankruptcy laws love to talk about individual responsibility, but apparently that does not include the banks and credit card companies that have given up the responsibility of due diligence.
The irresponsibility of handing out cards to anybody started when the restrictions on interest rates were removed many years ago because of high inflation at that time.
In today’s world, these card rates are usurious and the companies give out cards with no restriction.
Increased bankruptcy is the result of the gluttony of those lenders, and now they want more protection for their lending tactics.
George Ives
Brentwood
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