Autistic 20something dog loving medical nerd online roleplayer who likes to take pictures. This tumblr is basically a collage of me, which means it's a little bit messy.
  • Links
  • Following

The People’s Bailout

nehirose:

void-liminality:

pearwaldorf:

maxistentialist:

howtosharpenpencils:

This is a long post but it’s about something pretty interesting so I hope you’ll indulge …

Like many folks, Occupy Wall Street has been some doing good work in the aftermath of Hurricane Sandy, helping people on the ground.

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.)

This is a simple, powerful way to help folks in need — to free them from heavy debt loads so they can focus on being productive, happy and healthy. As you can see from our test run, the return on investment approaches 30:1. That’s a crazy bargain!

Now, after many consultations with attorneys, the IRS, and our moles in the debt-brokerage world, we are ready to take the Rolling Jubilee program LIVE and NATIONWIDE, buying debt in communities that have been struggling during the recession.

This is an amazing program. You’ll be able to donate soon at RollingJubilee.org.

This is pretty fucking cool! You should give them some money because I have none, it all being tied up in debt repayment. :/

Fascinating.

What I want is a way to nominate people to have their debt bought and erased.

Me too because I would completely nominate my parents, whose house got wrecked by Sandy while they are dealing with huge amounts of cancer treatment costs. 

November 28, 2012
18:57
2,784 notes
Source
Via
  1. eim-group reblogged this from wilwheaton
  2. investment-portfolio reblogged this from wilwheaton
  3. arashikami reblogged this from wilwheaton
  4. ohdarnedwind reblogged this from howtosharpenpencils
  5. fivedozencats reblogged this from reagan-was-a-horrible-president
  6. vivacity reblogged this from howtosharpenpencils and added:
    truthfully one of the most...have ever heard about. Average
  7. fearher reblogged this from wilwheaton
  8. iatrogenic reblogged this from nehirose and added:
    Me too because I would completely nominate my parents, whose house got wrecked by Sandy while they are dealing with huge...
  9. nehirose reblogged this from void-liminality and added:
    What I want is a way to nominate people to have their debt bought and erased.
  10. void-liminality reblogged this from pearwaldorf and added:
    Fascinating.
  11. fugazihugs reblogged this from howtosharpenpencils and added:
    Every time I think...just think, “Everyone needs...this.” To...
  12. dark-siren reblogged this from jackdaws-pocketbook
  13. emma-ink reblogged this from wilwheaton
  14. stokerbramwell reblogged this from wilwheaton and added:
    Show this to the next person who tells you that Occupy Wall Street hasn’t accomplished anything.
  15. kraftgenies reblogged this from maxistentialist
  16. tekym reblogged this from howtosharpenpencils
  17. spiralstreesandcupsoftea reblogged this from jackdaws-pocketbook
  18. spiderine reblogged this from jackdaws-pocketbook
  19. jackdaws-pocketbook reblogged this from wilwheaton
  20. sodomitedog reblogged this from clupster
  21. wittysense reblogged this from howtosharpenpencils