Joe Biden's Commitment to Student Debt Bankruptcy Will Attract Bernie's Supporters
by John Lawrence, March 20, 2020
Joe Biden is being smart now. In 2005 "middle class Joe" voted for the most anti-middle class legislation of the 20th century. Biden voted against borrowers drowning in medical debt, student loan debt, seniors, service members, union members and victims of deadbeat dads. He helped make it impossible to discharge student loan debt in bankruptcy court. Now, thanks to Elizabeth Warren and Bernie Sanders, he's on board for a reversal of that bill if he's elected President. The record makes clear that as a senator, Biden used his clout to push for the law’s passage and to defeat amendments to shield service members, women, and children from its harsh treatment. Particularly, after the 2008 Great Recession the lack of bankruptcy protection at a time when trillions of dollars were being pumped into the banking system was draconian by its very nature.
The American Prospect reported:
Biden also consistently voted against efforts to soften BAPCPA’s blow on vulnerable populations. He voted against three amendments to ease bankruptcy requirements for consumers whose financial troubles stem from medical expenses. He voted against an amendment that would have helped seniors keep their homes. He voted against exempting service members and widows of service members killed in action from the law’s eligibility restrictions. He voted against an amendment to exempt women whose financial troubles stemmed from deadbeat husbands’ failure to pay child support or alimony. And Biden even voted against an amendment that would have ensured that children of debtors could still be given birthday and Christmas presents. Biden also voted against allowing debtors to pay their union dues during bankruptcy, potentially imperiling their employment and ability to achieve financial rehabilitation.
It’s not as if Joe Biden was opposed to all amendments to the legislation: He voted to enshrine a “millionaire’s loophole” that allows wealthy, well-counseled debtors to shield their assets from creditors by placing them in asset-protection trusts. Nor did he act to cut off the loophole that shields assets placed by wealthy families in “dynasty trusts,” such as are offered by Delaware.
Good ol' middle class Joe. Well, finally, he's had a come-to-Jesus revelation that just maybe he was wrong about all those things he had previously voted for. Will he hang his head and ask for forgiveness? I doubt it. However, if he has seen the error of his ways and is willing to reverse his support of all the credit card companies headquartered in his home state of Delaware, then just maybe I will support him over Donald Trump for President. Sometimes you just have to hold your nose and vote. Bernie and Elizabeth have been consistent in their stands for the middle class. Biden is a Johnie-come-lately. He likes to reference himself to Barack Obama, and he certainly has a lot of African-American support, but he's just as phony as most politicians and served well all the financial interests in the state of Delaware at the expense of the middle class. Don't you think Trump will point this out?
Now it's all about Biden's running mate. Bernie is effectively out of the race although he and Elizabeth Warren have had a major effect in pushing Biden to the Left. His agenda is not all that bad. See joebiden.com. His infrastructure plans are great. His proposals to increase income for seniors is great. I think Amy Klobuchar would be an ideal running mate. She has flyover state cred. She's a woman. Biden is committed to choosing a woman as a running mate. She's proficient and experienced.
Biden is a major asshole, but he's the lesser of two evils when compared to Trump. In short he's our asshole. When it counted, Joe Biden looked out for millionaires and the banks, not the middle class. Let's hope he has seen the error of his ways and will come out from hiding behind the cloak of Barack Obama.
