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It's time to rethink how the bankruptcy law could compound the burdens shouldered by victims of Hurricane Katrina and other natural disasters.
Two Democratic lawmakers, Rep. John Conyers Jr. of Michigan and Sen. Russell Feingold of Wisconsin, are pressing for a revision of the bankruptcy law that, effective Oct. 17, narrows avenues of relief to debt-ridden Americans.
The law targets not only individuals but businesses as well — small businesses in particular, which will have less time than large ones to reorganize their debts before the government begins liquidation proceedings. This undoubtedly will hinder their ability to get back in the entrepreneurial game and runs precisely counter to what the devastated region will need in the future.
Republican supporters of the new bankruptcy law say that it already includes protections for disaster victims. Perhaps. But it's certainly worth reopening discussion of its provisions to make sure.
Without giving such proposed changes due consideration, the Gulf states' economic recovery could be prolonged needlessly.