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).
Former sex worker, current media maker and activist. Founder/director of the Red Umbrella Project (RedUP), a NYC-based, peer-led org that does media, storytelling, and advocacy with people with the sex trades. Lover of rescue animals (live with 2 dogs + cat), voracious reader, have case of late onset athleticism (running, triathlon, boxing).