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
2018-08-10
76
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 about the other factors fueling the bankruptcy rise?
选项
A、Lack of medical insurance has brought about social troubles
B、Unemployment has weakened 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
根据fueling the rise可定位到第三段。该段第三句谈到失业(Loss of jobs)也可能导致持卡人破产。B项中的Unemployment对应文中的Loss of jobs,而weakened...ability to repay debts则对应文中的drove...into bankruptcy,因此,B项为正确答案。
转载请注明原文地址:https://kaotiyun.com/show/fg6Z777K
0
考研英语一
相关试题推荐
Thefollowingparagraphsaregiveninawrongorder.ForQuestions41-45,youarerequiredtoreorganizetheseparagraphsintoa
"AMZN"isafour-letterwordtomanybooksellers.Theonlineretailerhasbeen【C1】______ofkillingthebooksellingindustry.It
"AMZN"isafour-letterwordtomanybooksellers.Theonlineretailerhasbeen【C1】______ofkillingthebooksellingindustry.It
Seariseasaresultofglobalwarmingwouldimmediatelythreatenthatlargefractionoftheglobelivingatsealevel.Nearlyo
InternetdatashowsthatAmericanyoungeradultshavebecometheprimarygroupmadaboutalteringtheirpersonalappearance.Onc
InternetdatashowsthatAmericanyoungeradultshavebecometheprimarygroupmadaboutalteringtheirpersonalappearance.Onc
Alcoholmaytastesweeterifyouwereexposedtoitbeforebirth,suggestsastudyinrats.Thefindingsmayshednewlight【C1】_
InalabinOxfordUniversity’sexperimentalpsychologydepartment,researcherRoiCohenKa-doshistestingarelativelynewbra
Aperson’shomeisasmuchareflectionofhispersonalityastheclotheshewears,thefoodheeatsandthefriendswithwhomh
Aperson’shomeisasmuchareflectionofhispersonalityastheclotheshewears,thefoodheeatsandthefriendswithwhomh
随机试题
妊娠期母体呼吸系统生理变化不正确的是
抢救有机磷农药中毒时,阿托品用量根据哪项而定
关于脑出血手术治疗适应证正确的是
张小姐,20岁,恶心、呕吐,上腹部疼痛数小时后转为右下腹痛,体温38℃,右下腹有固定压痛点,有腹肌紧张及反跳痛,白细胞15×109/L,首先考虑诊断是
关于急性肾炎的临床表现,下列哪项是错误的
用于财政直接支付和与国库单一账户清算的账户是()。
按统计调查项目的不同,统计报表制度可分为国家统计报表制度、部门统计报表制度和()组成。
( )是总结报告的精华,必须与研究架构、文献回顾的结构呼应,并注意资料的时间和逻辑。
下列有关乳酸菌的叙述,正确的是()。
2012年1~5月,规模以上轻工企业累计实现工业总产值66933.3亿元,同比增长18.4%;5月份完成工业总产值14777.1亿元,同比增长15.7%。农副食品加工、塑料制品、食品制造、造纸、家电、皮革及制鞋、酿酒、五金、工美、家具、软饮料等11个行业累
最新回复
(
0
)