The People’s Bailout 
 
 This is a long post but it’s about something pretty interesting so I hope you’ll indulge … 
 
 
 
 Like many folks, Occupy Wall Street has been some doing good work in the aftermath of Hurricane Sandy, helping people on the ground. 
 
 
 
 Now OWS is launching the ROLLING JUBILEE, a program that has been in development for months. OWS is going to start buying distressed debt (medical bills, student loans, etc.) in order to forgive it. As a test run, we spent $500, which bought $14,000 of distressed debt. We then ERASED THAT DEBT. (If you’re a debt broker, once you own someone’s debt you can do whatever you want with it – traditionally, you hound debtors to their grave trying to collect. We’re playing a different game. A MORE AWESOME GAME.) 
 
 
 
 This is a simple, powerful way to help folks in need – to free them from heavy debt loads so they can focus on being productive, happy and healthy. As you can see from our test run, the return on investment approaches 30:1. That’s a crazy bargain! 
 
 
 
 Now, after many consultations with attorneys, the IRS, and our moles in the debt-brokerage world, we are ready to take the Rolling Jubilee program LIVE and NATIONWIDE, buying debt in communities that have been struggling during the recession. 
 
 
 
 We’re kicking things off with a show called THE PEOPLE’S BAILOUT at Le Poisson Rouge on Thursday, November 15. It will also stream online, like a good ol’-fashioned telethon! 
 
 
 
 Friends, the line-up is insane. Performers include: 
 
 - JEFF MANGUM (Neutral Milk Hotel) 
 
 - JANEANE GAROFALO 
 
 - GUY PICCIOTTO (Fugazi) 
 
 - LIZZ WINSTEAD 
 
 - HARI KONDABOLU 
 
 - TUNDE ADEBIMPE and KYP MALONE (TV on the Radio) 
 
 - members of DAS RACIST 
 
 and other great talents including a group of radical nuns! I’ll be playing the role of JERRY LEWIS, emceeing in my tuxedo from MEN’S WEARHOUSE. 
 
 
 
 This will be a joyful, positive night about people banding together and subverting a predatory financial system in order to help each other. BOOM! That’s a movie pitch right there, goddamn why am I not a Hollywood mogul?! 
 
 
 
 Anyway, HERE IS THE INFORMATION about THE PEOPLE’S BAILOUT: 
 
 
 
 - The LIVE SHOW is at Le Poisson Rouge on THURSDAY 11/15, 8 - 11 PM. Tickets are $25 (each ticket buys $500 of distressed debt). 
 
 - The LIVE STREAM will be at http://rollingjubilee.org (you’ll be able to donate online) 
 
 - Here’s the FACEBOOK PAGE 
 
 - The HASHTAG is #peoplesbailout 
 
 
 
 HOW YOU CAN HELP: 
 
 
 
 - Spread the word! Share this info with your friends, family, and followers 
 
 - Donate money via http://rollingjubilee.org 
 
 $25 abolishes an estimated $500 worth of debt 
 
 $50 abolishes an estimated $1000 worth of debt 
 
 $100 abolishes an estimated $2000 worth of debt 
 
 $250 abolishes an estimated $5000 worth of debt 
 
 - Host a live-stream party! Get together with folks in your town and watch the show online and donate money and maybe even drink a beer if you’re feeling crazy. 
 
 - If you are Jerry Seinfeld or Bill Cosby: Call me about doing a set at the live show! We’ll fit you in. 
 
 
 
 Okay, that was a really long tumblr post. I feel very vulnerable right now. Thanks for reading. 
 
 
 
 Bye! 
 
 –David Rees 
 
 
 
 

 This is a set of web collections curated by Mark Graham using the Archive-IT service of the Internet Archive. They include web captures of the ISKME.org website as well as captures from sites hosted by IGC.org.These web captures are available to the general public.For more information about this collection please feel free to contact Mark via Send Mail
– Occupy Wall Street campaigners have a new target: distressed debt. A project called Rolling Jubillee is soliciting donations to buy up bad debts at bargain prices and cancel them, the Telegraph reports. So far they've only bought $14,000 in debt for $500, but they want to refill their coffers and expand nationwide. The debts they cancel include housing, outstanding medical bills, and student loans—but they can't eliminate a specific person's debt, according to their website. Still, it's "a simple, powerful way to help folks in need—to free them from heavy debt loads so they can focus on being productive, happy and healthy," writes organizer David Rees on his blog. And only $50,000 can free up $1 million in debt, according to a Rolling Jubilee video posted on YouTube. "We bailed out the banks and in return they turned their backs on us," says an activist in the video. "It's time for a bailout of the people, by the people." (See what Occupiers are doing for Superstorm Sandy victims.)