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(Studio) No. business bankruptcies last year noted.
REPORTER: Dan Rather
(NYC) Use of bankruptcy laws to avoid creditors examined; football player Rick Upchurch, lottery winner Ken Proxmire cited as exs. [PROXMIRE - defs. action.] [Consumer Bankers Association spokesperson Drew TIDWELL - notes abuse of credit card privileges.] Scenes from "It's a Wonderful Life" shown. Push by some attys. to promote bankruptcy noted; television commercial shown. Football player Harvey Martin's bankruptcy discussed; efforts of banks to tighten such laws examined. [TIDWELL - wants credit evaders to pay bills.] [Senator Howard METZENBAUM - defs. current laws.] [William SHIMFF - thinks bankruptcy provides his chance to begin again.] Role of bankruptcies in high consumer loan rates explained.
REPORTER: Ray Brady
- Brady, Ray;
- Rather, Dan
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