Quick, Early Gains Embolden Business Lobby -NYT

[Rose Siding]

WASHINGTON, Feb. 17 - These are heady days on Capitol Hill for business lobbyists. Just as the House of Representatives was completing work on one measure sought by some of the most powerful business lobbyists - which would sharply restrict class-action lawsuits brought against companies - the Senate began work on a second measure, to overhaul the bankruptcy system. It has long been sought by major banks, credit card companies and retailers and has its strongest chance of quick passage in years. It now heads to the Senate floor as soon as the members return from their recess in early March.

After suffering numerous setbacks in President Bush's first term, business lobbyists now say they have the wind at their backs. The class-action bill, for example, was approved on Thursday in the House by a vote of 279 to 149, after languishing in Congress for years. Its passage is a significant victory for businesses ranging from auto, drug and gun makers to home builders and tobacco companies. President Bush intends to sign it on Friday.
...
Other political forces are at work in favor of the business groups. The leaders of the House and Senate, often at odds even though the same party controls both chambers, have so far been working well together. In the case of the class-action legislation, the House agreed to adopt the Senate measure provided that the Senate did not amend the bill. Senate supporters then used that commitment to beat back both significant and modest proposals to change the legislation. There was talk on Capitol Hill this week that the same strategy could be used for the bankruptcy bill.

Moreover, Republicans and the White House have scheduled consideration of these measures early in the legislative session, before the atmosphere could become poisoned by such divisive issues as judicial nominations, or distracted by more difficult political issues like taxes and Social Security.

http://www.nytimes.com/2005/02/18/business/18lobby.html?pagewanted=2

[bpilgrim]

1. while us 'lucky duckies EAT CAKE, eh?!

http://images.globalfreepress.com

peace

[teryang]

2. Welcome to the new status of indentured servant

Whatever misfortune befalls you or your loved ones there will be no discharge from debt.

This is the misguided objective of ruthless corporatists. This will damage the economy well beyond imagination. It will take consumers out of the economy by the millions every year. Oh, your loved one got cancer and has $250,000 in unpaid medical bills. That's tough. Can't pay? Don't believe you. Homestead exemption from collectors under state law. No, we did away with that. You're homeless now.

Meanwhile on the homefront, I reviewed my "junk mail" over the last couple of weeks and totalled about $300,000.00 in "easy credit" offers. There were 7 credit card offers with lines of credit of up to 10 grand, three new car financing offers "pre-approved" up to $25,000.00, three refinancing offers with the largest at $130,000.00 (an A.R.M. of course).

It's P.T. Barnum time. Just sign right here.

[Elwood P Dowd]

3. I can picture it now

NY Times headlines in 2010, " Congress Votes To Approve Debtors Prisons"

WASHINGTON, Feb 17 - President Jeb Bush says he is pleased with the Senate vote of 59-10 on The Consumer Debt Improvement Act. He was especially encouraged with the approval of 250 billion dollars for the construction of 425 Consumer Re-education Facilities. Bush also expressed condolences for the recently deceased 31 Democratic Senators who missed the 4:00 AM vote.

Bush, who is currently vacationing at the Tahiti Winter White House , praised the bill as a victory for all Americans in the fight to eliminate fraud and terrorism against the poor and helpless financial institutions of our country. Fox News plans a live broadcast of the signing ceremony when Bush returns in April.

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