Melvin Watt: “I was among the people who was the first to concede that there was a problem in the bankruptcy system. Unfortunately, 2…”

“I was among the people who was the first to concede that there was a problem in the bankruptcy system. Unfortunately, 2 or 3 months into the process, we started to see that some concessions were starting to be made that made this bill really not address the gaming of the system, the games that were being played within the bankruptcy system, in a way that was going to have a fair impact. First of all, consumer groups and representatives of poor people said, ``We are not going to let you do a reform of the bankruptcy system unless you make some concessions to us,'' and they were a powerful lobbying group. Unfortunately, the people who wanted this bill said to the consumer groups, ``We'll give you something if you just keep quiet.”