Word: cristol
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...create a level playing field for everyone, Congress would need to enact a flat exemption that covers all assets--from home to pension. Otherwise there is the kind of inequity described by A. Jay Cristol, the chief U.S. bankruptcy judge in Miami...
...simple solution: Establish one exemption that covers all assets, from homesteads to pensions. Says Judge Cristol: "Why not just say you can have as a fresh start $55,000 or $100,000, or whatever the legislature decides is the right amount, and it doesn't make a difference if it's equity in your home or whether it's cash in the bank. That's what you get to keep. And that would be fairer and simpler, and the poorest people would be treated the same as the wealthiest people. But as it is now, the worse...
Last week, on the eve of the Philippine Republic's 10th Independence Day (July 4), Defense Under Secretary José Cristol, a former schoolteacher, offered a good-natured code of behavior for Americans toward his country...