Rolling Jubilee
posted November 13, 2012 # 0 Comments
I ran across Rolling Jubilee the other day and was intrigued by the concept of "The People's Bailout." The basic idea is banks often sell off risky debts for pennies on the dollar - seeking to make some profit rather than none. Typically, the new loanholder would then seek for the full payment of the debt and turn themselves a profit. However, in the Rolling Jubilee the debt is just absolved.
By no means do I have the banking insight to speak to the effectiveness of this campaign but it's certainly a worthwhile topic to think about and discuss. The official site isn't as explanatory as one would hope so please turn to other articles for a bit of education on that.
By no means do I have the banking insight to speak to the effectiveness of this campaign but it's certainly a worthwhile topic to think about and discuss. The official site isn't as explanatory as one would hope so please turn to other articles for a bit of education on that.

