首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
考研
Bankruptcy rates in the U.S. have been growing for more than two decades despite generally rising levels of personal income. The
Bankruptcy rates in the U.S. have been growing for more than two decades despite generally rising levels of personal income. The
admin
2017-04-13
51
问题
Bankruptcy rates in the U.S. have been growing for more than two decades despite generally rising levels of personal income. The most prominent explanation puts the blame directly on credit cards, which became vastly more popular in the past 30 years. University of Pennsylvania law professor David A. Skeel notes that a 1978 Supreme Court decision allowed credit-card companies to charge the interest rate allowed in their state of incorporation. As a result, many incorporated in the high-rate states of Delaware and South Dakota. Being able to charge high rates throughout the country, they could afford to issue cards to those with limited ability to repay. Many high-risk cardholders, overburdened with debt, filed for bankruptcy.
Skeel also notes that the impersonality of credit-card borrowing may have helped weaken the moral imperative to repay debts: in the 1960s a prospective borrower met face-to-face with a bank lending officer, but today the borrower gets credit by responding to a junk-mail offer.
Other developments also fueled the rise in bankruptcy, including medical bills. A Harvard University study found that about a quarter of filers cited illness or injury as the specific reason for their troubles. Loss of jobs probably also drove some credit-card holders into bankruptcy. Other possible contributors include the growth of the gambling industry in recent years and the Supreme Court’s 1977 decision to allow lawyers to advertise directly to the general public.
Changes in bankruptcy law apparently have had little effect on filings. The Bankruptcy Reform Act of 1978 was designed to make it easier for consumers to pay off debts and start anew. As under previous acts, penniless debtors could file for complete discharge of debts under Chapter 7, and debtors with substantial assets could arrange for partial repayment under Chapter 13. Most filers opted for the more generous provisions of Chapter 7. During the six years following implementation of the act, filings rose substantially. The act was amended in 1984 to curb opportunistic petitions. However, filings went in the opposite direction than expected. Evidently, easy credit and other debt-creating forces have been more powerful.
The latest legal effort is the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, which went into effect in October. The new act lays down far more strict standards for debtors, including a test to qualify for Chapter 7 relief. Despite the new restrictions, bankruptcy experts tend to be skeptical or noncommittal about the effectiveness in reducing filings.
We can conclude from the last paragraph that
选项
A、bankruptcy in the U.S. will decrease in the long run.
B、new acts concerning bankruptcy will protect debtors.
C、despite legal efforts uncertainty remains in bankruptcy issues.
D、bankruptcy experts don’t care about the effectiveness of filings.
答案
C
解析
推理判断题,考查结论推断。最后一段提到尽管设立了新的限制,破产方面的专家对此法案能否有效降低破产申请倾向于持怀疑态度或不发表任何意见,因此C项为正确答案。
转载请注明原文地址:https://kaotiyun.com/show/H9bZ777K
0
考研英语一
相关试题推荐
Youaregoingtostudyataforeignuniversity.Writealetterinquiringaboutthespecificinformationasregardsaccommodation
WholesalepricesinJulyrosemoresharplythanexpectedandatafasterratethanconsumerprices,【C1】______thatbusinesseswer
WholesalepricesinJulyrosemoresharplythanexpectedandatafasterratethanconsumerprices,【C1】______thatbusinesseswer
WholesalepricesinJulyrosemoresharplythanexpectedandatafasterratethanconsumerprices,【C1】______thatbusinesseswer
WholesalepricesinJulyrosemoresharplythanexpectedandatafasterratethanconsumerprices,【C1】______thatbusinesseswer
WholesalepricesinJulyrosemoresharplythanexpectedandatafasterratethanconsumerprices,【C1】______thatbusinesseswer
TothepeopleofEurope,cuckoosareharbingersofspring.ToEuropeanbirds,though,thecuckoo’scallislesswelcome—forcuck
Grillingmeatgivesitgreatflavour.Thistaste,though,comesataprice,sincetheprocesscreatesmoleculescalledpolycycli
Thetechnologicalrevolutionsofthelasttwodecadeshaveplacedasevereburdenontheconceptoftechnologytransfer.Itisq
【F1】Despitethegeneralnegativefindings,itisimportanttorememberthatallchildrenwholivethroughadivorcedonotbehav
随机试题
胃大部分切除术后患者取半坐卧位的最主要目的是
患者喘促日久,动则喘甚,呼多吸少,气不得续,汗出肢冷,跗肿,面青唇紫,舌淡苔白,脉沉弱。其治疗应首选()
背景某单层工业厂房工程施工,拆除顶层钢模板时,将拆下的25根钢管(每根长4.5m)和扣件运到井字架的吊篮上,6名工人准备随吊篮一起从屋顶下落到地面。此时恰好操作该吊篮的专职司机上厕所不在岗,临时由附近施工的一名普工开动卷扬机。在卷扬机下降过程中,钢丝绳
注册税务师对纳税人销售货物或应税劳务收取的价外费用是否并入销售额计税进行审核时,应当重点注意以下( )科目的明细账。
吊脚楼建筑主要分布在我国的()等少数民族居住地。
孔子说:“其身正,不令而行;其身不正,虽令不从。”这反映了教师劳动的()。
下列表述不符合国家政策规定的是()。
Excerpt1:Theprocessofvaccinationallowsthepatient’sbodytodevelopimmunitytothevirusordiseasesothat,ifit
求直线L:在平面π:x一3y+2z一5=0上的投影直线.
Sinceyouarealittletired,youhadbetter______arest.
最新回复
(
0
)