Relevant:
- Rolling Jubilee Offshoot Of Occupy Wall Street To Offer Debtors $1 Million Bailout
- Billionaire Gross: Jubilee Debt Relief as Prelude to New Global Economic Order
- Student debt crisis enters a tipping point -- Delinquent student debt now reaching record levels as defaults spike. Paying more and earning less.
- Young Professionals With Student Loan Debt - Priced Out Of The Market
- Fund manager Einhorn awaits further price falls for distressed debt
2012-11-12 — motherjones.com
``Now OWS is launching the ROLLING JUBILEE, a program that has been in development for months. OWS is going to start buying distressed debt (medical bills, student loans, etc.) in order to forgive it. As a test run, we spent $500, which bought $14,000 of distressed debt. We then ERASED THAT DEBT. (If you're a debt broker, once you own someone's debt you can do whatever you want with it--traditionally, you hound debtors to their grave trying to collect. We're playing a different game. A MORE AWESOME GAME.)''
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