ELECT
VIVIAN HOUGHTON
ATTORNEY GENERAL OF DELAWARE

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©_2002_Authorized and_paid_for_by_the Committee_to_Elect Vivian_Houghton Attorney_General, 800_N_West_St., Wilmington_DE_19801

 

Letter to the Editor of the News Journal
Wilmington, Delaware

7/22/02

by Vivian A. Houghton

Dear Editor:

The Sunday News Journal published a lengthy bankruptcy article that paid almost no attention to the controversy surrounding the so-called reform bankruptcy bill being considered by congress.  This omission is unforgivable, given that Sen. Joe Biden and MBNA stand at the center of this controversy. 

Joe Biden has been one of the Stateís loudest supporters of bankruptcy law changes.  These changes would make it easier for banks and credit card companies to extract monies, in the form of long-term debt payments from families or individuals whose financial safety net has broken as the result of major medical emergencies, job losses through down sizing, divorce and so on. 

Bidenís support of such legislation is no surprise.  Bidenís biggest group of financial contributors in 2001 were MBNA employees and MBNA political action funds.  For years, MBNA has pushed for bankruptcy law changes that would help the powerful to drain the economically hard-hit of more money.  Meanwhile, MBNA and Biden are not the least bit interested in preventing manufacturing companies from using the bankruptcy laws to bail out on their pension obligations to employees. 

Just as MBNAís contributions to Biden have shaped Bidenís thinking on bankruptcy issues, MBNAís contributions also have purchased congressional allies from around the nation.  For instance, in 2000 only 13 of the 147 incumbent congressmen who received MBNA funds dared to vote against MBNA-supported bankruptcy bills.  More recently, MBNAís financial influence has insured that there is not a peep of opposition from Congressman Castle or Senator Carper as MBNA and Biden push for bankruptcy law changes that will help the rich and hurt the poor. 

Bidenís role in all this is well known nationally.  In May, syndicated columnist David Broder wrote that it was  outrageous for Biden and other politicians to cave in to pressure from big home state bank and credit card employers.  

 

Vivian Houghton

800 West St.
Wilmington DE 19801 

(302) 658-0518

 

FOR MORE INFORMATION

The Committee to Elect Vivian Houghton Attorney General

The Green Party of Delaware

 

PEOPLE FIRST IN THE FIRST STATE: IT'S ABOUT TIME