Nov 13 2012
Huffington Post: Occupy Movement wants to Eliminate Debt
Occupy Wall Street movement supporters were outraged by the bank bailout. Now they want to start a bailout that people can actually get behind.
Dubbed the Rolling Jubilee, Occupiers have created a program to buy distressed consumer debt and then erase it. That will “liberate debtors at random through a campaign of mutual support, good will, and collective refusal,” the Jubilee’s website said.
To get started, the movement is on a fundraising mission, with a goal of $50,000. That’s enough to purchase about $1 million in distressed consumer debt, the group said. The group is hosting a live music variety benefit show in New York City on Thursday, and will use social media to gather donations.
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