Occupy Wall Street is now buying up peoples’ debts and forgiving them.
Its new initiative, called Rolling Jubilee [ht: sm], is being spearheaded by Occupy’s Strike Debt team toprotest a “predatory” lending system. The group held a telethon and variety show called “The People’s Bailout” in New York on 15 November to raise money for the cause, and the proceeds will be used to buy defaulted debts—such as unpaid student loans and medical bills—and erase them.
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