As it mourns its final days of Republican control, the Senate Judiciary Subcommittee on Administrative Oversight and the Courts is holding hearings today. According to a statement released by the National Association of Consumer Bankruptcy Attorneys, the hearings are intended “to create a phony record of the ‘success’ of what, in fact, are widely viewed as decidedly ineffective and counterproductive bankruptcy law changes” implemented by the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005.

NACBA President Henry Sommer stated:

No credible person in the field seriously disputes the fact that the bankruptcy law changes have been a spectacular flop. The law is not squeezing out the supposed legions of abusive filers because they were never there in the first place. All these ill-considered law changes are doing is erecting pointless additional hurdles and costs in the way of desperate families who legitimately need the fresh start of bankruptcy.

Among the Committee's guests of honor was Professor Todd Zywicki, of the George Mason University School of Law. I have mentioned the good professor in this blog. He's hardly an advocate for the average American struggling with debt.

NACBA believes that these hearings are an attempt to put “Lipstick on a Pig.” Read the release here.