Yesterday, the National Association of Consumer Bankruptcy Attorneys released a study showing that last year’s bankruptcy reform has been ineffective at its original purpose of stopping deadbeats exploiting creditors. Although the data represents preliminary results, few outside of the financial companies pushing the legislation expected otherwise. I highlight this because I like this quote from the story:
“The vast majority of people pushed to the brink of financial collapse by circumstances over which they had no control,” said Brad Botes, executive director of the NACBA. “Abuse of the process is the rare exception, not the rule.“
That last statement could be said about most every statist ideal currently pursued by our elected officials. It’s just so much easier to criminalize and prosecute every incident than to legislate the specific activities that harm society. It makes for better sound bites from politicians, since fear is better used with a thump than a nudge. It’s too bad reason takes the brunt of that hit.