One school of thought held that American bankruptcy law was too kind to debtors and made it too easy for individuals to wriggle out of their financial obligations.
These bankruptcy hawks made a major push for a reform of bankruptcy law late in the Clinton administration, and while they came up short then, they ended up taking another ultimately successful run at it during the mid-Bush years.
It’s an important read as the 2020 campaign begins because it offers unvarnished insight into the evolution of Warren’s thinking as she moved from being a Republican in the mid-1990s to the left-wing Democrat we know today.
The policy ideas she espoused 15 years ago are considerably smaller-scale than the platform she’s developed over the past decade, but the diagnosis that's led her to her current positions are all right there in the book — a book that argues that the fundamental structure of the American economy has shifted in a way that loads the dice against middle-class families.
BOSTON (CBS) – Senator Elizabeth Warren is in Iowa this weekend.
Her first speech was in the western part of the state where she sounded like she was on the campaign trail.
Much of this is fairly dry academic fare like 1999’s “Financial Characteristics of Businesses in Bankruptcy” (co-authored with Jay Lawrence Westbrook and published in the The book is chock-full of thoughts on a wide range of public policy issues but written long before Warren’s first run for public office or even before her campaign for a Consumer Financial Protection Bureau existed in its mature form.
It’s much realer and more interesting than any campaign book.
Warren’s book stems from her interest in empirical assessment of the causes of bankruptcy and led her to propose a thesis that was more striking at the time than it sounds today.
Households were declaring bankruptcy not because of a collapse of spending restraint but because of objectively bleak economic circumstances for the American middle class.