Bankruptsy is a situation people like us would not actually like to be in. But American daily sets new trends for the rest to follow.
The lastest of USAs trends is bankruptsy, easier said than done, it needs elaborate planning in order to land up bankrupt & there after evade the debts you owe.
USA & Britain have always had the most debtor-friendly bankruptcy laws, enabling bankrupt individuals to live life in peace even if they fall into huge debts by protecting them against their own debts. Since it is easy for persons to evade such bills very naturally the number of bankrupt companies has expanded mammothly in the past 20 years .
- 2005 ; 35,898 people filed for bankruptcy protection. A proof of the amount of people planning to go bankrupt.
The US legeslation is trying to amend laws in order to make the constitution less debt friendly as the fact that the debter is the sole villain behind all of it. More & more people seem to be seeking debt protection & are falling into huge debts.
Congress clearly blames the debtor, not his financial enabler. The new bill will make it harder for individuals to declare Chapter 7, the most common form of bankruptcy, which allows debtors to walk away from their debts, often while shielding exempt assets like cars and homes. Those whose income is above the median in their state, and who are able to pay at least $100 a month after allowed expenses, will be forced to enter Chapter 13, where they must repay at least part of their debt over five years. Debtors will have to document their income more extensively and go for credit counselling. Serial Chapter 13 filings, which are often used to stave off foreclosure or eviction, will be blocked.
All the while Europeans are quite bemused at the immorality of American citizens they might also wonder why Americans are so eager to move their bankruptcy law closer to Europe’s—especially since Europe is busily trying to emulate America. Until around 20 years ago, consumer bankruptcy didn’t even exist in many European countries, and corporate bankruptcy was a draconian process too dreadful for all but the most desperate managers to contemplate. Since then, these nations have relaxed their laws precisely because they see the economic benefits this has brought America.
Bankruptsy seems to be seeping in now as its benefits outrun the losses.....................!
Saturday, April 16, 2005
Thursday, April 14, 2005
TERRI SCHIAVO- A n ordinary life & an extra ordinary death
The debate on life & death continues & probably will. However the concerned individual does not even have a say considering that it is he who is being decided about. In such cases the importance of the indidvidual is not taken into consideration, wot how ever is taken into consideraton is - the financial arrangement and the people around the patient.
The life support system is useful to keep some one's bodily functions active when undergoing a surgery of some kind eg. heart, lung, bone marrow, etc. However, today it is also used by the persons' family when the patient is in a PVS or permanant vegetative state. In such cases the family members keep the individual alive in the hope of a miraculous recovery.
TERRI SCHIAVO lay in a Florida hospital, fed by a drip feed. She is on the ventilator.A faint smile seems to brush her lips as her mother touches her. Doctors say her brain has been destroyed, that these responses are unconscious and that she will never be able to interact with her surroundings. How ever to a lay man such reflexive emotions are real & it would be cruel to let go of such a person.
The story begins in February 1990. Mrs Schiavo, then 26, suffered a heart attack that caused massive loss of oxygen to the brain. She emerged in a “persistent vegetative state”—the common term for someone who does not respond consciously to their surroundings. At first, the family rallied behind her and each other. Michael, her husband, trained as a respiratory nurse in order to look after his wife. Mrs Schiavo moved back into the house shared by her husband and her parents, Bob and Mary Schindler.
Then the court cases began. At first they seem to have been a cause, as much as a reflection, of family disputes. Mr Schiavo sued his wife's gynaecologist for malpractice; the court found for Mr Schiavo and awarded him $1m. This sum seems to have started the feud. Husband and father-in-law had a blazing row about what it should be used for at Terri's bedside.
Over time her family thought that she was delighted to hear their voices & is reacting with a smile on her face & certain expressions, as opposed to fact they were mere reflex actions of the body that had nothing to do with emotion. CAT scan affirmed that her brain had been irrepairibly damaged & the emotions were reflexive & were a result of sparks in the subcortex.
However the ultimate deciosion was made on 2 imp facts- her husband by law had the right to decide & that on her garnd mother funeral lunch she told her hsband that if that ever happened to me the she shuld not be put on the ventilator when Mrs Schiavo's own thoughts on the matter were fished out of the past and presented .
A Florida court twice ordered Mrs Schiavo's feeding tube to be removed and Jeb Bush, the governor of Florida, overruled it.
Her “supporters” outside the Supreme Court last week, standing in silence with the word “Life” taped over their mouths, presumed to represent her views. She, dying slowly, had no views.
Eventuallytwo weeks after the tube was removed she died an extraordinary death. Cases such a terris have largly given way & complicated matters of Bioethics
The life support system is useful to keep some one's bodily functions active when undergoing a surgery of some kind eg. heart, lung, bone marrow, etc. However, today it is also used by the persons' family when the patient is in a PVS or permanant vegetative state. In such cases the family members keep the individual alive in the hope of a miraculous recovery.
TERRI SCHIAVO lay in a Florida hospital, fed by a drip feed. She is on the ventilator.A faint smile seems to brush her lips as her mother touches her. Doctors say her brain has been destroyed, that these responses are unconscious and that she will never be able to interact with her surroundings. How ever to a lay man such reflexive emotions are real & it would be cruel to let go of such a person.
The story begins in February 1990. Mrs Schiavo, then 26, suffered a heart attack that caused massive loss of oxygen to the brain. She emerged in a “persistent vegetative state”—the common term for someone who does not respond consciously to their surroundings. At first, the family rallied behind her and each other. Michael, her husband, trained as a respiratory nurse in order to look after his wife. Mrs Schiavo moved back into the house shared by her husband and her parents, Bob and Mary Schindler.
Then the court cases began. At first they seem to have been a cause, as much as a reflection, of family disputes. Mr Schiavo sued his wife's gynaecologist for malpractice; the court found for Mr Schiavo and awarded him $1m. This sum seems to have started the feud. Husband and father-in-law had a blazing row about what it should be used for at Terri's bedside.
Over time her family thought that she was delighted to hear their voices & is reacting with a smile on her face & certain expressions, as opposed to fact they were mere reflex actions of the body that had nothing to do with emotion. CAT scan affirmed that her brain had been irrepairibly damaged & the emotions were reflexive & were a result of sparks in the subcortex.
However the ultimate deciosion was made on 2 imp facts- her husband by law had the right to decide & that on her garnd mother funeral lunch she told her hsband that if that ever happened to me the she shuld not be put on the ventilator when Mrs Schiavo's own thoughts on the matter were fished out of the past and presented .
A Florida court twice ordered Mrs Schiavo's feeding tube to be removed and Jeb Bush, the governor of Florida, overruled it.
Her “supporters” outside the Supreme Court last week, standing in silence with the word “Life” taped over their mouths, presumed to represent her views. She, dying slowly, had no views.
Eventuallytwo weeks after the tube was removed she died an extraordinary death. Cases such a terris have largly given way & complicated matters of Bioethics
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