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
2018-08-10
31
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 1984 in order to _____
选项
A、promote easy credit
B、counter debt-creating forces
C、give debtors more freedom
D、prevent opportunistic filings
答案
D
解析
根据Bankruptcy Reform Act of 1978及1984可定位到第四段倒数第三句。该句提到,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“阻止投机人士提出(破产)申请”与文意一致,故为正确答案。解答本题的关键在于定位,注意题目问的是该法案在1984年修正的目的,并非该法案最初的目的。
转载请注明原文地址:https://jikaoti.com/ti/l257FFFM
0
考研英语一
相关试题推荐
【F1】Manyofusmayhavelistsofcontactsandfollowersonsocialmedianetworksthatextendintothethousands,butnewresearc
Seariseasaresultofglobalwarmingwouldimmediatelythreatenthatlargefractionoftheglobelivingatsealevel.Nearlyo
Seariseasaresultofglobalwarmingwouldimmediatelythreatenthatlargefractionoftheglobelivingatsealevel.Nearlyo
Seariseasaresultofglobalwarmingwouldimmediatelythreatenthatlargefractionoftheglobelivingatsealevel.Nearlyo
InternetdatashowsthatAmericanyoungeradultshavebecometheprimarygroupmadaboutalteringtheirpersonalappearance.Onc
Alcoholmaytastesweeterifyouwereexposedtoitbeforebirth,suggestsastudyinrats.Thefindingsmayshednewlight【C1】_
InalabinOxfordUniversity’sexperimentalpsychologydepartment,researcherRoiCohenKa-doshistestingarelativelynewbra
Thesearedarkdaysforthebookbusiness.Borders,aonce-hugebookseller,【C1】______onJuly18ththatitwillclosedownitsre
Thesearedarkdaysforthebookbusiness.Borders,aonce-hugebookseller,【C1】______onJuly18ththatitwillclosedownitsre
Aperson’shomeisasmuchareflectionofhispersonalityastheclotheshewears,thefoodheeatsandthefriendswithwhomh
随机试题
A、Peopleshouldfeelsorryforwhattheycan’thave.B、Peoplewillfeelhappyiftheydobetterthanwhattheyexpected.C、Peopl
咯大量脓性臭痰见于哪种疾病
近年来,多媒体技术在课堂上的使用得到了加强。然而,前两天在某市举行的教学公开课评比中,大量使用电脑多媒体等现代化教学手段的老师反而没有获奖。理由是电脑多媒体虽然先进,信息量大,能使课堂丰富多彩,但用多了并不是好事,有可能使学生思维退化。校长举了一个例子,他
太平天国定都天京,标志着正式建立起与清政府对峙的政权。()
巴德利和希契提出的工作记忆模型认为工作记忆的成分包括
掺水股票(wateredstock)
设X,Y为两个随机变量,P(X≤1,Y≤1)=,P(X≤1)=P(Y≤1)=,则P(min(X,Y)≤1)=().
Scienceanditspracticalapplicationsintheformoftechnology,orthe"science"oftheindustrialarts,asWebsterdefinesth
软件生命周期是指()。
【B1】【B7】
最新回复
(
0
)