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Occupy Wall Street organizing "debt jubilee," buying debt for pennis on the dollar and forgiving it

This is just amazing. Occupy Wall Street Launches 'Rolling Jubilee' To Buy Up And Forgive Debt | ThinkProgress
Members of Occupy Wall Street — various branches of which have recently been saving families from foreclosure and aiding victims of Hurricane Sandy — have launched a new initiative. Coined the “Rolling Jubilee,” Occupiers are raising money to buy distressed debt from financial firms. But while purchasers of debt usually hound debtors in order to make a return on their investment, Occupy plans to simply abolish the debt for the lucky individuals whose accounts they grab. As explained on the Rolling Jubilee website: We buy debt for pennies on the dollar, but instead of collecting it, we abolish it. We cannot buy specific individuals’ debt – instead, we help liberate debtors at random through a campaign of mutual support, good will, and collective refusal. Organizer David Rees explained further: 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.

November 08, 2012

Elizabeth Warren on American addiction to debt

November 05, 2012

Carpenter sickened by building a stage only to find out it was for Romney to fire an entire company

I guess if you're going to be a monster you want a really nice new stage to do it from? The Devastating Bain Ad That Could "Kill" Romney in Ohio | Mother Jones
The super-PAC's most searing ad was "Stage," in which a man named Mike Earnest describes building a 30-foot stage at the paper plant he worked at in Marion, Indiana. Romney-run Bain Capital had recently bought the plant. Days after building the stage, Earnest explains, a group of businessmen strolled onto it and told everyone at the plant they were fired. "Turns out that when we built that stage," Earnest says into the camera, "it was like building my own coffin. And it just made me sick."

October 28, 2012

"'If you feed the horse enough oats, some will pass through to the road for the sparrows"

I.e., the 99% are shit-eating birds? *sigh* Kinda preferred "gleaners."...

October 26, 2012

Krugman: Obama's recovery plan might be boring and safe but at least he *has* a plan

Pointing Toward Prosperity? - NYTimes.com
Well, as I’ve said before, Mr. Romney’s “plan” is a sham. It’s a list of things he claims will happen, with no description of the policies he would follow to make those things happen. “We will cut the deficit and put America on track to a balanced budget,” he declares, but he refuses to specify which tax loopholes he would close to offset his $5 trillion in tax cuts. Actually, if describing what you want to see happen without providing any specific policies to get us there constitutes a “plan,” I can easily come up with a one-point plan that trumps Mr. Romney any day. Here it is: Every American will have a good job with good wages. Also, a blissfully happy marriage. And a pony. So Mr. Romney is faking it. His real plan seems to be to foster economic recovery through magic, inspiring business confidence through his personal awesomeness. But what about the man he wants to kick out of the White House? Well, Mr. Obama’s booklet comes a lot closer to being an actual plan. Where Mr. Romney says he’ll achieve energy independence, never mind how, Mr. Obama calls for concrete steps like raising fuel efficiency standards. Mr. Romney says, “We will give our fellow citizens the skills they need,” but says nothing about how he’ll make that happen, pivoting instead to a veiled endorsement of school vouchers; Mr. Obama calls for specific things like a program to recruit math and science teachers and partnerships between businesses and community colleges.