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Copyright 1999 The New York Times Company
The New York Times
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May 20, 1999, Thursday, Late Edition - Final
SECTION: Section A; Page 26; Column 4; Editorial Desk
LENGTH: 126 words
HEADLINE: Law Favors Risk-Takers
BODY:
To the Editor:
Representative Henry J. Hyde (Op-Ed, May 18) twists the recent
reform of bankruptcy laws by the House of Representatives to fit new Republican slogans.
The problem is not whether one puts, or fails to put,
"a human face on capitalism" but that lenient bankruptcy laws are good for capitalism because they reward
risk-takers. They are necessary for a society that wants to stay dynamic;
turning away from risk is an early sign of looming stagnation.
The passing of the reform by the House of Representatives shows who the members
really represent, the corporations that help finance their election. These
corporations do not stand for
"capitalism"; they stand for their own interests.
GABRIEL ASH
Brooklyn, May 18, 1999
http://www.nytimes.com
LOAD-DATE: May 20, 1999