Occupy Wall street has bought up $14,734,569.87 worth of personal debt for a knock down price of $400,000, freeing individual Americans from what was mostly made up of medical bills. They then went on to ‘abolish’ the debt.
“We thought that the ratio would be about 20 to 1,” said Andrew Ross, a member of Strike Debt and professor of social and cultural analysis at New York University. He said the team initially envisaged raising $50,000, which would have enabled it to buy $1m in debt.
“In fact we’ve been able to buy debt a lot more cheaply than that.”
Read the full article here: http://www.theguardian.com/world/2013/nov/12/occupy-wall-street-activists-15m-personal-debt