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
2015-10-20
26
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.
According to Paragraph 1, bankruptcy rates in the U.S. have been increasing mainly because
选项
A、having credit cards was a fashionable trend in the 1970s.
B、credit-card companies charged only those unable to repay high rates.
C、many indebted people easily claimed bankruptcy throughout the country.
D、many credit card holders pressed by debt have filed for bankruptcy.
答案
D
解析
事实细节题,考查因果细节。第一段指出破产率的上升主要归咎于高利率信用卡的广泛使用,而很多高风险的信用卡持卡人不堪债务累累,于是申请破产。因此,D项为正确答案。
转载请注明原文地址:https://kaotiyun.com/show/iCzZ777K
0
考研英语一
相关试题推荐
TheteachingofEnglishasasecondlanguage(ESL)inschoolshashadahistoryofconflictingarguments,interestinginnovation
On-lineServiceTwitterInSeptember2008,Twitterco-founderBizStonesaidthecompanynevermettohammeroutbusinessmo
Theinventionofbothlabor-savingtoolsandtoolsofintelligenceisrarelyaccidental.Instead,itisusuallytheproductofh
Assummerrollsaround,lawmakersinWashingtonarepreparingtovoteonajobsbillthatwouldinclude$1billionforsummerjo
Assummerrollsaround,lawmakersinWashingtonarepreparingtovoteonajobsbillthatwouldinclude$1billionforsummerjo
(46)Attheendofthenineteenthcentury,arisinginterestinNativeAmericancustomsandanincreasingdesiretounderstandNa
Thequestionofwhereinsightscomefromhasbecomeahottopicinneuroscience,despitethefactthattheyarenoteasytoindu
Anewstudyshowsarelationshipbetweenfastwalkingandlifeexpectancy.Forthisstudy,researcherslookedatwalkingspeeda
Californiaishavingproblemswithitsdeathpenalty.Ithasn’texecutedanyonesince2006,whenafederalcourtruledthatits
Whenitcametomoral"reasoning,"weliketothinkourviewsonrightandwrongarerational,butultimatelytheyaregrounded
随机试题
原尿中不被重吸收的物质是
A.沿黏膜上行蔓延B.经血液循环播散C.经淋巴系统蔓延D.直接蔓延E.种植产褥感染、流产后感染的主要途径是()
女性,65岁,妊5产4,绝经15年,近3年会阴坠胀感,近2个月症状加重,自觉阴道口有块物脱出。检查阴道前壁隆起脱出阴道口外,宫颈外口脱出处女膜缘约2cm,子宫体萎缩,双附件正常。最适合的治疗是
下列药材中,来源于芸香科,药用于炽树皮的是
投资活动现金流入包括()。
以固定点电荷P为圆心作两个同心圆,如图4虚线所示。带电粒子Q在P的电场中运动轨迹与两圆在同一平面内,a、b、c为轨迹上的三个点,其在a、b、c三点的加速度大小分别为aa、ab、ac,速度大小分别为aa、ab、ac。则()。
在一项检验大学生心理旋转是否存在性别差异的研究中,若在平面旋转条件下,以三维物体和字母R为两种刺激材料,以性别为被试变量,每种实验处理需要4名被试,要求不同性别的被试进行匹配判断并记录其反应时。请给出两种实验设计方案,并说明每种方案最少需要的被试数量。[统
在考生文件夹下,存在一个Excel文件“Test.xls”和一个数据库文件“sampl.accdb”。“sampl.accdb”数据库文件中已建立三个表对象(名为“线路”、“游客”和“团队”)和一个窗体对象(名为“brow”)。试按以下要求,完成表和窗体的
Dr.Turnerdecidedtoleavehispresentjobbecause______.Thestorysuggeststhat______.
A、GiveJane’sfriendacall.B、GotoJane’sfriend’splace.C、TellJanethatitisreallylate.D、TrytocallJaneonemoretime
最新回复
(
0
)