Occupy Wall Street continues to show that it’s more than just a simple protest movement. They have been doing amazing work with Hurricane Sandy relief and now there’s Rolling Jubilee. Here’s how Rolling Jubilee works:
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!
This has my vote for idea of the year. Well, until the debt sellers catch on and either raise the price due to demand or refuse to sell to untrusted brokers.
Occupy Wall Street went up to protest at Lincoln Center last night during a performance of Philip Glass’ opera Satyagraha. New Yorker music critic Alex Ross was there and captured the protest on video, which included Glass himself reading the closing lines from the opera, amplified to the crowd by the people’s mic. It is an amazing scene.
When the Satyagraha listeners emerged from the Met, police directed them to leave via side exits, but protesters began encouraging them to disregard the police, walk down the steps, and listen to Glass speak. Hesitantly at first, then in a wave, they did so. The composer proceeded to recite the closing lines of Satyagraha, which come from the Bhagavad-Gita (after 3:00 in the video above): “When righteousness withers away and evil rules the land, we come into being, age after age, and take visible shape, and move, a man among men, for the protection of good, thrusting back evil and setting virtue on her seat again.” True to form, he said it several times, with the “human microphone” repeating after him. Lou Reed and Laurie Anderson were in attendance, and at one point Reed helped someone crawl over the barricade that had been set up along the sidewalk.