Whats up with Bash expansion?

[Harry]

I'm brand new with ubuntu but have run linux for quite a few 
years.  I've run many versions of bash... not sure I've used the
current one before though.  I just switched from Gentoo linux after
several years on it but not sure what version was the last I used.

What I'm seeing that puzzles me is different than pre ubuntu so I'm
not sure if its something changed in bash, or maybe the way it gets
configured on Ubuntu.

Expansion seems to work different and actually causes time consuming
delays in getting the text right.

Here is an example:

I use a few homeboy variables to help navigation.  $rea equals 
/home/reader, so in these command:

   ls $rea/some<tab> to complete to /home/reader/someplace

That is how its worked for eons... but now when I hit tab the buck
gets escaped \$rea/som<tab> and of course that cancels any expansion.

Pre ubuntu (for me) I would see both the variable and the partial
directory name expand when hitting <tab>.

So instead of $rea expanding to /home/reader.... it gets escaped
\$rea.  Now I have to back up and remove the escape slash and have
lost the expansion property that has been such a time saver.

Does anyone know if this is something that is configurable?