Bankruptcy Reform Plan Sounds Good, Won't Work

Law360, New York (January 3, 2008, 12:00 AM EST) -- You have to love politicians, especially those running for offices they’ve never held before. They trumpet sweeping pronouncements that make for wonderful sound bites without ever having to seriously consider repercussions.

Astute politicians also know how to swipe at societies’ pariahs to gain maximum affirmative response from the general voting public. John Edwards is indeed an astute politician.

On Jan. 2, Edwards outlined his populist, multi-pronged strategy for curbing “corporate abuses.” See “My Plan to Stop Corporate Abuses.”

The Edwards plan is to “renew America’s basic...
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