Bush Signs Bill Outlawing Bankruptcy: Poor People Rejoice

Unconfirmed sources report that thousands of debt ridden Americans have taken to the streets in celebration of the outlawing of bankruptcy. With the stroke of a pen President Bush put an end to the money woes of hundreds of thousands of financially strapped Americans. The new law is a real victory for regular Americans and has been fought by financial companies for over a decade. The President signed the bill and said “This is how I feel about the little guy.”

“This is a total victory for Joe six pack.” Said economist Paul Krugman. “The big credit card companies have been fighting this bill for years and they finally lost. I’m frankly surprised that Bush signed it, as he has been on the side of big money interests on so many issues. He is showing some real political guts by standing up to the credit card companies on this one. This bodes well for lower income Americans and signals that the President may be ready to tackle other issues like curbing excessive banking fees and super high interest rates on credit cards. Good going Mr. Bush.”

“This is such a relief.” Confided Cindy Bruckmeyer of Chillicothe, Ohio. “I got into a bad accident and lost my job and then lost my insurance because I couldn’t work. My savings are gone and my credit cards are maxed out. This bill is a life saver. I was going to have to declare bankruptcy to try and get out of this mess and now I don’t have to. Thank you Mr. Bush, now I don’t have to suffer through bankruptcy. Thank you!”

Economists agree that outlawing bankruptcy is good for the regular debt ridden American, but not everyone is happy about the new law.

Florida real estate broker Ken Laythem thinks the new law is going to cripple his business. “I sell big houses to rich people who want to protect their assets. In Florida under the old bankruptcy laws your house was protected. Creditors could take everything but your house. Under the new law nobody will need to shelter their assets in a big house so the market for ‘asset protection properties’ is going to get clobbered. Hell this law is going to force me into