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
43
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.
Which of the following is true of the other factors fueling the bankruptcy rise?
选项
A、Lack of medical insurance has brought about social troubles.
B、Unemployment has impaired cardholders’ ability to repay debts.
C、The growth of gambling industry has inhibited money wasting.
D、Government authorities have decided to legalize bankruptcy.
答案
B
解析
推理判断题。根据fueling the rise定位到第三段。文中谈到失业也可能导致持卡人濒临破产。因此,B项为正确答案。
转载请注明原文地址:https://kaotiyun.com/show/W9bZ777K
0
考研英语一
相关试题推荐
WholesalepricesinJulyrosemoresharplythanexpectedandatafasterratethanconsumerprices,【C1】______thatbusinesseswer
WholesalepricesinJulyrosemoresharplythanexpectedandatafasterratethanconsumerprices,【C1】______thatbusinesseswer
WholesalepricesinJulyrosemoresharplythanexpectedandatafasterratethanconsumerprices,【C1】______thatbusinesseswer
WholesalepricesinJulyrosemoresharplythanexpectedandatafasterratethanconsumerprices,【C1】______thatbusinesseswer
WholesalepricesinJulyrosemoresharplythanexpectedandatafasterratethanconsumerprices,【C1】______thatbusinesseswer
WholesalepricesinJulyrosemoresharplythanexpectedandatafasterratethanconsumerprices,【C1】______thatbusinesseswer
Whennextyear’scropofhigh-schoolgraduatesarriveatOxfordUniversityinthefallof2009,they’llbejoinedbyanewface
Mostpeoplecanidentifytheirtoppriorityatwork.Generally,itwillbethepartofthejobthatismostproductivefortheir
TothepeopleofEurope,cuckoosareharbingersofspring.ToEuropeanbirds,though,thecuckoo’scallislesswelcome—forcuck
Thetechnologicalrevolutionsofthelasttwodecadeshaveplacedasevereburdenontheconceptoftechnologytransfer.Itisq
随机试题
党的十九大明确指出,我国社会主要矛盾是()
外观检验不能发现的焊缝缺陷是()。
使用Mowry阿尔辛蓝过碘酸希夫(ABPAS)染色法进行黏多糖染色时,中性和酸性混合物质呈
胃蛋白酶原的激活物是
A.血清胆红素≥85μmol/LB.血清胆红素≤171μmol/LC.血清胆红素≤205μmol/LD.血清胆红素>256.5μmol/LE.血清胆红素>342μmol/L当发生胆红素脑病()。
燃气管道及其附件组装完成并试压合格后,应进行通球扫线,每次吹扫管道长度不宜超过()km。
如果A、B两只股票的收益率变化方向和变化幅度完全相同,则由其组成的投资组合()。
Inordertosurvive,tofeed,clotheandshelterhimselfandhischildren,manisengagedinaconstantstrugglewithnature.
我国历史上第一部社会主义类型的宪法是()。
A.sothatB.preferenceC.normalD.circleE.callsforF.problemG.longerH.cycleI.matterJ.illustratesK.hand
最新回复
(
0
)