The Rolling Jubilee is just getting started and so far it has raised over $6 Million, which will be used to wipe out medical debt for random Americans. Cutting debt while helping those in need, now there’s something everyone can agree on.
For more information and to donate, visit http://rollingjubilee.org
Phi Beta Iota: What we find utterly fascinating here is the discount rate on personal debt in the USA: 4%. They have bought and dismissed $6 million in debt for a cost of $304,850. 4% — at a time when most Americans are being hounded by debt collectors, and nothing is being done to help the average person. How hard would it be for the President to sponsor a Jubilee Bill at this rate — instead of trillions for the banks, a billion or less, at 4% [96% leverage] wipes out all individual and small business debt in the USA. A big idea. Mr. President?