Wednesday
Feb242010
Obama Health Proposal Would Prohibit Some Insurance Rate Increases, Says Democrat Schakowsky
Rep. Jan Schakowsky (D-Ill.) says during a hearing on Wednesday that President Barack Obama's health reform proposal has measures in place that would help prevent insurance companies from randomy raising their customers' rates. (0:26)
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tagged chingyu Wang, congresswoman, health insurance bill, hearing, jan schakowsky, obama, wellpoint in Audio, Congress
Credit card debt and bankruptcy correlation
At a House Judiciary Subcommittee hearing on "Consumer Debt: Are Credit Cards Bankrupting Americans?" Adam Levitin from Georgetown University Law Center said, “There is nothing particularly surprising about high credit card debt correlating with bankruptcy. People who are in bankruptcy have debt. What is important to note is that debt, dollar for dollar, credit card debt has a much higher correlation with bankruptcy than any other type of debt.”
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