Friday, October 24th, 2014

Promises about Bankruptcy on The Obameter

Forbid companies in bankruptcy from giving executives bonuses

"Protect the jobs and benefits of workers and retirees when corporations file for bankruptcy by telling companies that they cannot issue bonuses for executives during bankruptcy while their workers watch their pensions disappear."

Allow workers to claim more in unpaid wages and benefits in bankruptcy court

"Increase the amount of unpaid wages and benefits workers can claim in bankruptcy court against their employer."

Allow bankruptcy judges to modify terms of a home mortgage

Will repeal provisions of the Chapter 13 law that prohibit bankruptcy judges from modifying the original terms of home mortgages for ordinary families -- regardless of whether the loan was predatory or unfair or is otherwise unaffordable -- "so that ordinary families can also get relief that bankruptcy laws were intended to provide."