A Lapdogs’ View of Bankruptcy Reform

I have a great deal of respect for the Birmingham Business Journal. I look to the Journal for current information about the current state of changes in business, not just in Birmingham but across Alabama. There’s no question, however, that it sees the world through business-colored glasses. Here’s the latest evidence, a remarkably rosy description of the Bankruptcy Reform Act.

The authors work for Balch & Bingham, one of your banker’s best friends; their description says nothing about the massive shift in power from consumers to banks, nor does it mention the pernicious provisions designed to make it more difficult for lawyers to represent people who want to file bankruptcy.

It would be nice for a publication of the quality of the Birmingham Business Journal to treat this oh-so-gentle salute to the banking industry for the puff piece it is and allow equal time for the consumer’s perspective. Even better, wouldn’t it be great if journalists actually acted like journalists and examined the issues critically?

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