Mok notes that red states have far higher bankruptcy rates than do blue ones and adduces this as evidence that the GOP is once again screwing its constituents over. That's true, but I think it misses the larger point. The red states have higher bankruptcy rates because they elect Republicans who pass creditor-friendly laws at the state level. The more creditor-friendly the laws become, the more incentive lenders have to offer loans to bad credit risks. The more loans made to bad credit risks, the higher the bankruptcy rate gets.
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This elaborates on what I was saying the other day.
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