Chris Dodd has unveiled his ideas on reforming the bankruptcy laws and protecting folks from the likes of Banker Cat. The main bullet points are as follows:
* Modify the means test to ensure families have sufficient resources to live onI particularly like the idea of medical debts being dischargeable. This would be helpful during the transition period between our current and post-reform health care system. The rest of the plan is certainly worth a read, so check it out.
* Protect children, not creditors
* Ensure all medical debts are dischargeable
* Permit bankruptcy courts to restructure mortgages so families can stay in their homes
* Allow private student loans to be dischargeable
