Bankruptcy Quote by Tim Holden
“In 1997, the National Bankruptcy Review Commission recommended that chapter 12 of the Federal Bankruptcy Code, the chapter that contains bankruptcy protection for family farmers, be made permanent.”
About This Quote
The commission suggested making farmer bankruptcy protection permanent to give agricultural families stable, long‑term relief.
In simple terms: Farmers need lasting bankruptcy help.
Key Takeaway
Support permanent farmer bankruptcy laws.
Themes
agriculture
law
financial security
Mood
concerned
pragmatic
Type
policy
legal
When to use this quote
- rural credit
- farm succession
- financial planning
Key Concepts
bankruptcy reform
policy stability
Questions to Reflect On
- How would permanent protection affect farm risk?
- What safeguards could ensure responsible borrowing?
A Different Perspective
Permanent protection may reduce incentives for responsible financial management.
![“In my very first term there was an issue that brought us [George Mitchell, Ted Kennedy, Chris Dodd] together in a very deep, emotional, and personal level.It was called 'spousal impoverishment' and it meant that for one person [to go into] a nursing home, the family [ ], could go near bankruptcy…” quote by Barbara Mikulski](https://sms4smile.com/quotes/img-quotes/ad5/barbara-mikulski-8601_bankruptcy_in-my-very-first-term-there-was-an-issue_146180.jpg)