So what is Rolling Jubilee? The group is an outfit launched just a year ago by former Occupy Wall Street members now grouped under the nationwide Strike Debt collective. On its website, Rolling Jubilee says that "Banks sell debt for pennies on the dollar on a shadowy speculative market of debt buyers who then turn around and try to collect the full amount from debtors." According to Strike Debt member Ann Larson, "For every dollar of debt we abolish, we paid only two cents." The group has no idea whose debt it was purchasing: sales are made anonymously and it's not until the end of the transaction that Strike Debt has access to the addresses to which it will send letters, such as the one it mailed to Logsdon.
Source: DIGG
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