New US Bankruptcy Laws
The body of law known as US Bankruptcy Laws is actually derived from many sources, yet collectively combine to create what ideally should be a comprehensive set of rules that provide a consistent and fair administration of cases. Laws are provided by statute, case opinion, rules (both national and local), as well as ordinary customs and usage policies that, over time, became unquestioned court practices. In 2005, a new federal act created broad sweeping reform requirements. The new law was quite controversial, but is not living up to the agenda promoted by its proponents.
The Greatest impact of new US laws
The conservative right is adamant in their demands to eliminate what is putatively termed "judicial activism". In practice, few statutes reliable predict all circumstances that may arise, and therefore judges must use their discretion to craft decisions that consistent, to the greatest extent possible, with many conflicted statutes. Conservatives decry this practice as an abuse of power, yet have not proposed a workable solution. Because the Constitution mandates separation of powers, many legal scholars claim that centralizing all decisions (as proposed) in the executive branch is a breech of national trust.
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