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It says on the site they cannot buy individual debts. They are buying debt on the market and canceling it. I'd be curious as to the mechanics of this as well; after all, if you have a mortgage backed security that's become a debt backed security, I suppose canceling that debt would all go indirectly to those who owed the debt. A cancelled debt is a cancelled debt.
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Occupy Wall Street has been doing some good things lately. I thought I'd list a couple. Does anyone want to list some of the compassionate acts being organized by the Tea Party?
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.
The social media savvy that helped Occupy Wall Street protesters create a grassroots global movement last year is proving to be a strength in the wake of Hurricane Sandy as members and organizers of the group fan out across New York to deliver aid such as hot meals, medicine and blankets.
...
Now the group has dozens of relief centers across the city and a stream of volunteers who are shuttled out to the most desperate areas. It is partnering with local community and volunteer organizations.
A recent post on Occupy Sandy's Facebook page said: "Attention! If anyone in Rockaway needs to have their basement pumped, please contact Suzanne Hamalak at suzybklyn@aol.com. Her family wants to help and have industrial pumps ... they will do it for free ..."
Red vs. blue......Black vs. white....Rich vs. Poor.....OWS vs. Tea Party
I'm ******* tired of it. How is no one else? Why should we buy into this ****? Because the talking box in our living rooms says so? No that's bull****. Please don't let them convince us that this 'divide' is really a natural divide.
One side hates the regulating, big/centralized gov't. One side hates the cheating, greedy mega-corporations/financial institutions. So what do we do? We split into teams and fight...EACH OTHER!
Must just be coincidence that both of the "bad guys" seem to gain more and more of what they want(wealth,power) while we get less and less of what we want.(wealth,liberty)
Let's not consider that though. It's so much more fun trying to convince ourselves that we are both intellectually and morally superior to those "racist republicans" or "limousine liberals".
I've been told big business is against big government. Big Gov't wants to protect us from Big Business.
It's bull. They've been in bed together for a very long time now, it's just that we are the ones getting ****ed...
Red vs. blue......Black vs. white....Rich vs. Poor.....OWS vs. Tea Party
I'm ******* tired of it. How is no one else? Why should we buy into this ****? Because the talking box in our living rooms says so? No that's bull****. Please don't let them convince us that this 'divide' is really a natural divide.
One side hates the regulating, big/centralized gov't. One side hates the cheating, greedy mega-corporations/financial institutions. So what do we do? We split into teams and fight...EACH OTHER!
Must just be coincidence that both of the "bad guys" seem to gain more and more of what they want(wealth,power) while we get less and less of what we want.(wealth,liberty)
Let's not consider that though. It's so much more fun trying to convince ourselves that we are both intellectually and morally superior to those "racist republicans" or "limousine liberals".
I've been told big business is against big government. Big Gov't wants to protect us from Big Business.
It's bull. They've been in bed together for a very long time now, it's just that we are the ones getting ****ed...
__________________
We get what we deserve.
------------------ “On a day when they could have had impact players David Terrell or Koren Robinson..they took Georgia defensive tackle Richard Seymour, who had 1 sacks last season in the pass-happy SEC and is too tall to play tackle at 6-6 and too slow to play defensive end. This genius move was followed by trading out of a spot where they could have gotten the last decent receiver in Robert Ferguson and settled for tackle Matt Light, who will not help any time soon.”
OWS is often seen as the left counterpart to the Tea Party movement, and comes under a lot of criticism in this forum from the right. Is the Tea Party anything more than part of the political establishment? It came about as response to politics and usual, but really that mantel seems to belong more to OWS, which has not yet been co-opted. But, I could be wrong. I really would like to know if the Tea Party activists have been there for natural disasters or other good works.
The Tea Party is a loose organization at best. It represents those American traditions and ideals that formed this country and made it what it is - hard work, self reliance, the determination to improve one's self.
The people who identify with the Tea Party generally are working class folks who pay their bills and ask little if anything from others - let a lone the government. Ever notice that the Tea Party "events" are one day affairs, mainly on Saturdays? That's because they have jobs and families and responsibilities that need to come first. That means going to work.
The big question I have - why should this debt be forgiven?
In any event, teabaggers also skew older. I don't think you could put together a tent city of blue-haired teabaggers who toughed it out in all weather. Their rhumatiz would act up.
Young people are different -- particularly a young population on the butt end of the system in place before they were born, who have unemployment of 10% plus (and I'm sure it's 30% plus when you start in with all the random assignation of horrible underemployment, leaving the workforce, blah blah blah, by which the pubbies like to shift the measure to declare every day the worst one EVAH.) A lot of them, as you know, have nothing but time.