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
2021-09-17
13
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.
Bankruptcy Reform Act of 1978 was amended in order to
选项
A、promote easy credit and filing.
B、counter debt-creating forces.
C、give debtors more freedom.
D、cripple opportunistic filings.
答案
D
解析
根据Bankruptcy Reform Act of 1978定位到第四段。文中提到,1984年最高法院为了抑制投机人士提出破产申请,对此项法案进行了修正。因此,D项为正确答案。
转载请注明原文地址:https://kaotiyun.com/show/sY1Z777K
0
考研英语一
相关试题推荐
人类性格与行为形成的原因及影响——1990年英译汉及详解Peoplehavewonderedforalongtimehowtheirpersonalitiesandbehaviorsareformed.Itisnote
城市对人类生活的重要性及面临的问题——1987年英译汉及详解Havetherealwaysbeencities?【F1】Lifewithoutlargeurbanareasmayseeminconceivabletous,b
Overthepastcentury,allkindsofunfairnessanddiscriminationhavebeencondemnedormadeillegal.【F1】Butoneinsidiousform
Islamiclawisaparticularlyinstructiveexampleof"sacredlaw".Islamiclawisaphenomenonsodifferentfromallotherforms
Islamiclawisaparticularlyinstructiveexampleof"sacredlaw".Islamiclawisaphenomenonsodifferentfromallotherforms
Inthenextcenturywe’llbeabletoalterourDNAradically,encodingourvisionsandvanitieswhileconcoctingnewlife-forms.
TheethicaljudgmentsoftheSupremeCourtjusticeshavebecomeanimportantissuerecently.Thecourtcannot【C1】______itslegit
Researchhasshownthat—inbothsexesandacrossnumerouscultures—attractivepeoplearejudgedtobesmarter,kinder,morehone
Youknowyouhavetoread"betweenthelines"togetthemostoutofanything.Iwanttopersuadeyoutodosomethingequallyim
Boysandgirlsusedtogrowupandsetasidetheirchildishpursuits.Notanymore.Thesedays,menandwomenholdontotheirin
随机试题
自由执业导游是以导游工作为主要职业,但并不受雇于固定的旅行社,是我国导游队伍中一支不可缺少的生力军。()
下列的哪些说法与阿托品不相符
A.样本率与总体率比较的目的B.配对计数资料的比较目的C.两个样本率比较的目的D.多个样本率作比较的目的E.将两个或多个样本构成比作比较的目的
烟花爆竹生产过程中,在钻孔和切割带药的半成品时,应在专用工房内进行,且()
适合采用技术推算法清查的是()。
Thiscaseisquite___________todaywiththegreatdevelopmentofscienceandtechnology.
患者,女性,35岁。因月经过多且经期延长,贫血,血红蛋白仅56g/L,而决定行全子宫切除术。术前主刀医师在考虑手术各步注意事项时,下列哪项可不必顾虑?()
关于生物,下列说法错误的是:
应用Paretol图可以()
Ideasabout"spoiling"childrenhavealwaysinvolvedconsiderationofjustwhatisaspoiledchild.Howdoesspoilingoccur,andwh
最新回复
(
0
)