http://www.newyorkfed.org/research/staff_reports/sr358.pdf
We argue that the 2005 bankruptcy abuse reform (BAR) contributed to the surge in
subprime foreclosures that followed its passage. Before BAR, distressed mortgagors
could free up income by filing bankruptcy and having their unsecured debts discharged.
BAR blocks that maneuver for better-off filers by way of a means test.
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I found this at
http://economistsview.typepad.com/economistsview/2008/12/bankruptcy-refo.html#comments
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