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Originally posted by cornucopia
Occupy Wall Street campaigners buy-up debt to abolish it
www.telegra ph.co.uk
(visit the link for the full news article)
A group of campaigners linked to the Occupy Wall Street movement is buying-up distressed loans for pennies in the pound and cancelling them to "liberate debtors at random".
So again I ask, why reward those who were not responsible with their money?
Originally posted by knightrider078
I was not a fan of Occupy Wall Street this is the type of stuff they should have been doing . Not trashing public parks and all that crap
We need a jubilee, a clean slate, a cancellation of debt for the 99%.
Originally posted by cornucopia
hi all, i'll embed the video on that website for you
What Is The Rolling Jubilee?
We need a jubilee, a clean slate, a cancellation of debt for the 99%.
this is awesome, if the banks don't want to help the people then we the people will
www.youtube.com...
Originally posted by shortchop79
It's a great concept and all but I really hope they take into account the unintended consequences their actions might cause. I know from experience that when banks write off debt the IRS likes to consider that income. Debts purchased at low% are likely to have been in debt collectors hands previously and probably don't have updated contact information to reach the debtor. Imagine your debt disappears without any reason, you are happy and feel like everything is turning up in the world. Then, a few years later you get a letter from the IRS saying you had unreported income in a previous year and didn't pay taxes on it. Now on top of those original taxes you owe interest and fines and have to refile etc. This actually happened to me and ended up costing me my DoD security clearance and with it my job.
Originally posted by cornucopia
Originally posted by knightrider078
I was not a fan of Occupy Wall Street this is the type of stuff they should have been doing . Not trashing public parks and all that crap
what they were doing is/was way more important than trashing a park, lol...
that's like saying you don't want solar power because people may have to climb onto your roof to install it, lol
i mean c'mon, you are a Human being, let's make this a better world ASAP, please
Thank You