Tag Archives | debt relief

Occupy Wall Street Eliminates $15 million of Debt

Since the protest started in Zucotti Park in New York City near the financial district, the Occupy Wall Street movement has done a lot to raise awareness of the iniquities and corruption in the American political and economic system, whilst receiving biased mass-media editorializing and suffering undue violence from the local police. Since November 15, 2012, the Occupy movement started a program of debt-relief called “Rolling Jubilee,” which seeks to bailout individuals who have accrued debt through credit cards as well as medical bills. To date they have relieved millions of dollars in debt for just pennies on the dollar.

VIA Guardian

A group of Occupy Wall Street activists has bought almost $15m of Americans’ personal debt over the last year as part of the Rolling Jubilee project to help people pay off their outstanding credit.

Rolling Jubilee, set up by Occupy’s Strike Debt group following the street protests that swept the world in 2011, launched on 15 November 2012.

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Occupy Movement Buys Up Debts…And Forgives Them!

'Occupy' Zürich Lindenhof 2011-10-30 15-56-28Douglas Rushkoff describes a positive turn in the life of the Occupy movement, for CNN via his blog:

Much like President Obama, the Occupy movement is alive and well and entering its second term, thank you very much. It’s no longer about squatting in public parks, getting on the news, or — in some cases — getting arrested. No, instead this decentralized, bottom-up, anti-Wall Street effort is taking aim at your medical, student and other loans: It aims to relieve your debt.

Just as Obama appears to have left the lofty rhetoric of “being the change” behind him as he confronts the more practical realities of working a financial plan through an intransigent Congress, the occupiers have given up on winning media mindshare or public support and have turned instead to direct action that helps real people. In its Act 2, Occupy is just occupying the space where it’s needed.

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