Last week the Senate passed the Bankrupcy Reform Bill. This goes to show that even while the party of "small government" holds Congress, big business can get what it wants.

I consider myself a libertarian. Not of the party of that name, but of that philosophy. So the argument that some (most) Credit Cards companies are preying on some consumers doesn't wash with me. People that get themselves into credit card debt have my pity, but are not entitled to raise the rates on my cards, which I use responsibly. It is also not the place of government to protect lenders from their bad decisions. If they want to make high-risk loans, they should be responsible for the losses to defaults and bankruptcy.

My objection with making it harder to file for bankruptcy is that the entrepreneur is the one most hurt by the policy. Easy bankruptcy makes it possible for some businesses (i.e. jobs) to get started. It is much easier to put it all on the line for a new business when you know that there is a floor to your losses. You can/will still lose you house, car, savings, retirement etc... but you can at least pull yourself back up and try again. Punishing job creators by forcing long repayment plans of excessive debt for failed ventures seems counterproductive. Especially when you consider that this bill was written to enable credit card companies to recover more from bankrupt customers so as to shield them from their own bad practices.

Shame on you Senators...shame