Paul Krugman paints a clear picture of what the Senate will vote on today with this awful bankruptcy bill "written for and by the credit card companies":
To the extent that there is significant abuse of the system, it's concentrated among the wealthy - including corporate executives found guilty of misleading investors - who can exploit loopholes in the law to protect their wealth, no matter how ill-gotten.
Chalk one up for "the industry's political muscle." We're gonna do more on this here at the Daily DeLay, for as it moves to the House, House Majority Leader Tom DeLay has said he will fast-track it. The bankruptcy bill may just become the latest in a long list of paybacks DeLay has given to political donors. But before it comes to a vote in the House, we need to fight this one.