Political Quotes

“I would agree. Similarly, I believe the Federal Trade Commission should keep in mind that when we talk about a dependent of the debtor we are referring to people like an elderly parent or relative, or a disabled person. Property belonging to a dependent elderly or disabled person should also figure into the definition. Moreover, I would note that although some members of the Judiciary Committee have tried to tell the FTC what to do, this provision ultimately leaves the decision in the hands of the FTC. We have never had hearings or conducted any inquiry whatsoever into what household goods are necessary or appropriate in bankruptcy. The point of this provision is to ask the FTC to make the necessary inquiries and provide a suitable definition. As the lead Democratic co-sponsor of this bill, as the author of this provision--which I proposed during the Committee debate--and as the ranking member on the Subcommittee with jurisdiction over the bankruptcy code, I believe the FTC is much better suited to do this than we. In addition, I would note that the definition of dependent must be drawn from the bankruptcy code itself in order for any FTC definition to be at all meaningful or useful.”