Tumblr Icon RSS Icon

Occupy Wall Street’s ‘Rolling Jubilee’ Raises Enough To Abolish $5 Million In Debt

By Travis Waldron  

"Occupy Wall Street’s ‘Rolling Jubilee’ Raises Enough To Abolish $5 Million In Debt"

Share:

google plus icon

Members of Occupy Wall Street last week announced the formation of “Rolling Jubilee,” a fundraising campaign that would be used to purchase outstanding debt and then abolish it. And as of Friday, the campaign has already raised enough to eliminate more than $5.7 million in personal debt, according to its web site. The group’s plans are to buy outstanding debt from financial institutions for a small price, but instead of collecting on the debt, it will forgive it in order to relieve student loan, medical, and other forms of debt.

‹ Why Income Inequality Has Skyrocketed In The Last 30 Years

Hostess Blames Union For Bankruptcy After Tripling CEO’s Pay ›

By clicking and submitting a comment I acknowledge the ThinkProgress Privacy Policy and agree to the ThinkProgress Terms of Use. I understand that my comments are also being governed by Facebook, Yahoo, AOL, or Hotmail’s Terms of Use and Privacy Policies as applicable, which can be found here.