Strike Debt / Rolling Jubilee

This Thursday night, tune into to stream The People's Bailout, a telethon and variety show featuring: Janeane Garafolo, Lizz Winstead, Jeff Magnum of Neutral Milk Hotel, and Guy Piccioto of Fugazi, just to name a few. The show is sold out at its live location at le Poisson Rouge* on Bleecker Street in NYC, but you can livestream at the website for Strike Debt's Rolling Jubilee project.  

An offshoot of Occupy Wall Street, Strike Debt is finding ways to resist and circumvent the traditional, oppressive debt system. This particular project involves raising money from average folks like you and me, using those funds to purchase bundled debt on trading markets, and then abolishing it. 

Here's how the Rolling Jubilee-ers explain themselves: "Banks sell debt for pennies on the dollar on a shadowy speculative market of debt buyers who then turn around and try to collect the full amount from debtors. The Rolling Jubilee intervenes by buying debt, keeping it out of the hands of collectors, and then abolishing it. We’re going into this market not to make a profit but to help each other out and highlight how the predatory debt system affects our families and communities. Think of it as a bailout of the 99% by the 99%."

*Incidentally, former Mainer Lady Lamb the Beekeeper is performing there TONIGHT with Kaki King!

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