Occupy's "Rolling Jubilee"

[littlebert8]

I think the group that set this up were right that its the awareness raising publicity that will be the biggest benefit from this. Much as I like the idea that we could do something similar here, the concept is ultimately self defeating as it would drive up the price of distressed debt.

http://www.theguardian.com/world/sho...py-wall-street

I think the figures they quote are actually quite conservative. Many old or problem debts are sold for under a penny in the pound. They are being traded at similar rates to marketing prospects. The 5-10% accounts are the 'prime' end of the market.

It would be nice to be able to buy someones debt and just send them a letter forgiving them, but I can't help thinking that a charity could do better by using that money to educate people in being able to fight for themselves. That said, I like the idea of subverting the system.

[FlamingParrot]

Re: Occupy's "Rolling Jubilee"

It would be nice to be able to buy someones debt and just send them a letter forgiving them, but I can't help thinking that a charity could do better by using that money to educate people in being able to fight for themselves.

Isn't that exactly what we're doing here?

That said, I like the idea of subverting the system.

So do I! :grin: :grin: :grin:

[arslan33]

Re: Occupy's "Rolling Jubilee"

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