This article appeared in the Guardian yesterday about Rolling Jubilee – Occupy’s Strike Debt project. The way the project works is simple: Collect donations. Use the donations to buy debt for pennies on the dollar through the secondary debt market. Abolish the debt. Repeat.
I find the project very interesting. According the Guardian piece, Rolling Jubilee has, to date, bought and freed $14 million worth of consumer debt – mainly medical bills. Practical implications aside, the project is a wonderful way to raise awareness about debt as a commodity and to empower people to take a stand against Wall Street.