Home > #OWS, finance, news > You are not a loan: Rolling Jubilee eradicates $15,000,000 worth of debt #OWS

You are not a loan: Rolling Jubilee eradicates $15,000,000 worth of debt #OWS

November 13, 2013

This is super cool. Occupy Wall Street’s Strike Debt group has bought up almost $15 million dollars worth of mostly medical debt which was owned by 2,700 people across 45 states and Puerto Rico. They used donations they’ve been collecting over the last year. There’s more information about this action in this Guardian piece.

Here’s what I like about this. By freeing people of medical debt in particular, which is the biggest cause of bankruptcy filings, it emphasizes the lie of the “moral sin” often associated with crushing debt.

In other words, instead of imagining poor and debt-ridden people as lazy and glibly unable to keep their promises, the Rolling Jubilee action bestows a much-needed act of compassion for some of the millions of the unlucky people in this country caught in a dysfunctional health and credit system.

And while it’s true that it is making a small dent in the debt problem, in dollars and cents terms, I think the Strike Debt’s debt action, and its Debt Resistors’ Operation Manual, has made huge strides in how people think about debt in this country, which is tremendously important.

Student-You-Are-Not-A-Loan

Categories: #OWS, finance, news
  1. November 13, 2013 at 11:27 am | #1

    “You are not your bank account.” – Fight Club

  2. November 13, 2013 at 9:41 pm | #2

    Great minds think alike as I posted this too as it’s huge relief for medical bills for many. It should have seen bigger coverage and a few networks picked it up. On another topic why in heck do they keep digging up Larry Summers and I posted a video as he was talking about the success of US healthcare…quote ” “The Stuff About The Web Site Is Very Exciting Theater For All of You”…” what the heck? There’s no sign of ethics coming out of his mouth for sure.

    Of course I have been following that one (website) in detail with the technologies used and sad case of procurement and not using more off the shelf Oracle “best practice” modules with the short time frame they had to build it with already integrated code modules. Even Issa today was professional about the testimonies as he had “smart” people there and not Sebelius and Tavenner, the technologists from the government that can write code:)

    http://ducknetweb.blogspot.com/2013/11/and-now-for-word-about-healthcare-from.html

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