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Courtesy Flush

(4,558 posts)

17. According to Strike Debt, “for every dollar of debt we abolish, we paid only 2 cents"

Reply to xchrom (Original post)

Sun Dec 1, 2013, 11:38 AM

Dec 2013

According to Strike Debt member Ann Larson, “for every dollar of debt we abolish, we paid only two cents.”

So why can't people pay off their own debts for two cents on the dollar? Somebody out there is giving that huge discount to insiders. Would it be so hard to let the debtor have the same deal?

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Highlight:

Former Occupy Wall Street activists start ‘Rolling Jubilee’ to buy up Americans’ personal debt [View all] xchrom Dec 2013 OP

This is so good. K&R Egalitarian Thug Dec 2013 #1

The Rolling Jubilee takes action, while others spew rhetoric and take no actions. Bluenorthwest Dec 2013 #2

+1. nt SammyWinstonJack Dec 2013 #4

k/r marmar Dec 2013 #3

Very nice, but buying debt = giving banks money. Pterodactyl Dec 2013 #5

the banks would otherwise sell the debt to those fuckers annabanana Dec 2013 #9

Please look at the big picture. AllyCat Dec 2013 #13

"former"? annabanana Dec 2013 #6

yah - i know - but it was the title. nt xchrom Dec 2013 #7

K & R mountain grammy Dec 2013 #8

Good job OWS! alfredo Dec 2013 #10

I love Rolling Jublilee. Have donated to them many times AllyCat Dec 2013 #11

We need a global jubilee. n/t Laelth Dec 2013 #12

How come we never hear about this? WinstonSmith4740 Dec 2013 #14

See #8. nt pinboy3niner Dec 2013 #15

Thanks! WinstonSmith4740 Dec 2013 #20

k and r for the great job they are doing. niyad Dec 2013 #16

According to Strike Debt, “for every dollar of debt we abolish, we paid only 2 cents" Courtesy Flush Dec 2013 #17

I think it's because it gets bundled and sold in bulk A Little Weird Dec 2013 #18

Courtesy Flush, it’s the banksters who securitize debt, all sorts of debt like student loans ms.smiler Dec 2013 #21

Think what starting over in this nation would mean! And among all the options it is only one small jwirr Dec 2013 #19