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We are the 99 percent

Help Abolish Debt with The People's Bailout: A Variety Show & Telethon to Benefit the 99%

Posted 11 years ago on Nov. 3, 2012, 10:59 a.m. EST by anonymous
Tags: people's bailout, strike debt, rolling jubilee, nyc

poster for The People's Bailout

#RollingJubilee begins November 15th with the #PeoplesBailout

Buy tickets here: http://www.lepoissonrouge.com/lpr_events/peoples-bailout/
100% of ticket sales go to abolishing debt

Greetings from Strike Debt!

It’s finally time to tell you about our exciting new project, “The Rolling Jubilee” (www.rollingjubilee.org). The basic premise is simple: people shouldn’t have to go into debt for an education, because they need medical care, or because they have to put food on the table during hard times.

No politician is going to fix this.

The Rolling Jubilee is a bailout of the people by the people - we buy defaulted debt for pennies on the dollar, but instead of collecting it, we abolish it. Our goal for the launch is to raise $50,000, which will likely allow us to abolish more than $1,000,000 dollars worth of personal debt. The more money we raise, the more debt we can abolish. Donations can be made online at rollingjubilee.org beginning around November 15.

More details will be released as we get closer to the launch.


This campaign will launch on November 15th with THE PEOPLE'S BAILOUT, a telethon and variety show at Le Poisson Rouge in New York City. There will be music, comedy, education, magic and more. Confirmed guests include: comedian Janeane Garofalo, Daily Show co-creator Lizz Winstead, actor/director John Cameron Mitchell ('Hedwig and the Angry Inch'), comedian Hari Kondabolu, David Rees ('Get Your War On'), Jeff Mangum of Neutral Milk Hotel, Lee Ranaldo of Sonic Youth, Guy Picciotto of Fugazi, Tunde Adebimpe of TV on the Radio, and more. (Download Poster at https://sphotos-b.xx.fbcdn.net/hphotos-prn1/46531_297288527050595_1862553266_n.jpg)

Tickets for the show go on sale today at 10AM. Purchase yours at http://www.lepoissonrouge.com/lpr_events/peoples-bailout/. Be quick, we expect them go fast!


We're hoping you can help us spread the message via social media. Let’s get the word out far and wide. Here’s how:


1) Forward this message to friends and family.

2) Please like our Facebook page & share the Facebook Event Page.

3) Follow @StrikeDebt on twitter.

4) Post and tweet using the hashtags #PeoplesBailout and #RollingJubilee, and refer to our website (www.rollingjubilee.org) and twitter handle. Some sample posts can be found here: http://bit.ly/RJSampleTweets.

5) Donate your Twitter or Facebook account for one daily re-post or re-tweet: http://donateyouraccount.com/StrikeDebt. This is a safe and easy way to help us keep spreading the message.


On November 8th and 15th, we’re organizing big coordinated pushes to promote #PeoplesBailout on social media. Soon we will be sending out additional info about how to help. Watch your inbox and invite your friends to sign up at rollingjubilee.org.

Please email us (rollingjubilee@gmail.com or strikedebt@interoccupy.net) if you have any questions about the Rolling Jubilee. We’ll be in touch soon with details about the big social media push.

In Solidarity,

Strike Debt

PS - To head off one common question, we cannot buy specific individual's debt - instead, we help liberate debtors at random through a campaign of mutual support, good will, and collective refusal. As a trial run, we spent $466 and successfully bought and abolished $14,000 of medical debt.

You Are Not A Loan.



Read the Rules
[-] 3 points by DKAtoday (33802) from Coon Rapids, MN 11 years ago

YES - F'n Right-ON. Time and long past Time - to call for and push - REAL economic reform/AID. Let us truly cut out the cancer - Derivatives amongst other cancers. Clear out the smoke and mirrors from finances/economy.

Let us get REAL!!!!

Keep-on Keeping-on.

[-] 2 points by hozelda (2) 11 years ago

Keep-on Keeping-on.

Why don't we take the project further and combine it with the idea of "passing it on", of passing the favor on?

Tell the person whose debt is being forgiven how much it took to buy that debt. Then encourage that person to come up with that amount of money to buy someone else's debt, which they will then forgive while also asking to pass on the favor the same way.

But as this catches on, the price of the distressed debt will rise. Instead of 30:1 ratio, it will narrow down perhaps to 3:1 (??)

[-] 2 points by DKAtoday (33802) from Coon Rapids, MN 11 years ago

Pay it forward? Sure - tweet it. We use the same concept around here when we have stopped to help someone - pull them out of a ditch, jump their battery to get their car started, help remove a fallen tree etc etc etc

People are grateful for the help and often ask if they can reward the helper (s) - sure we say - if you see someone that you can help - Please Do.

[-] 2 points by adstiles (2) 11 years ago

Sounds good, but for maximum impact, the details need to be explained. Most importantly this: "we help liberate debtors at random" -- what does this mean?? How? Who? Where? When?

This is the central concept, and so far, extremely vague. To get mass support, make this dead simple and bring it front and center. @adstiles

[-] 1 points by jessinamercy (1) from Eugene, OR 11 years ago

The key words I read are "Medical debt". This must mean that it is not paying off random credit card debt, so no I don't think you have to worry about paying for "frivolous" stuff, and or spending addictions...

[-] 1 points by bullfrogma (448) 11 years ago

What is this magic trick? Buying debt for pennies to a dollar.

What greedy banker would allow that to happen?

Are they making a deal just because it's money they know they'll never see otherwise? Is the effect just raising money to get bankers that hard to reach income? Is this a ploy to take pressure off the original bailout?

Every bit of good helps but who exactly is behind this?

Good people are so often used for sinister purpose.

[-] 1 points by bullfrogma (448) 11 years ago

I've read more about it now. This is cool.

Sorry for the 3rd degree, i'm ignorant.

[-] 1 points by Middleaged (5140) 11 years ago

Excellent Way To Shame Government. Public Executives seem helpless to think Out of the Box. But they create money and are the owners of the US Fiat Currency.

Money is created for Banks to Loan out and Get Rich on ... but the government won't forgive consumer debt or Sovereign Debt... and pays interest to banks even though it is the US government that has given the charter to Big Banks. And while Interest Rates are given tor corporations that avoid paying taxes .... Individual Savings Accounts don't earn any money at all ...dragging down Retirement Savings after cataclysmic damage from 2008 Financial Crisis.

[-] 1 points by DKAtoday (33802) from Coon Rapids, MN 11 years ago

Jubilee gets some good circulation by Care2 :

Occupy Wall Street Is Buying And Paying The 99%’s Debt Occupy Wall Street is using the system against itself to provide real relief to real people who are really suffering because of this unnecessary debt. read more


[-] 1 points by lisa2100 (7) 11 years ago

People can already go bankrupt from all debt except for educational debt (that's unfortunate). People can literally take out $100,000 in credit card debt and go bankrupt. I agree that educational debt should be forgiven after a long number of years, maybe 10 after responsible payments, but to say it like America is taking from the "99%" supposedly suppressing them when they are legitimately purchasing a service they should PAY for (honor code), isn't true esp. when people CAN go bankrupt for other reasons ALREADY and NEVER have to pay

[-] 1 points by raitken (1) 11 years ago

Does anyone happen to have tickets to this event they could spare? I am visiting from Canada and would love to attend.


[-] 1 points by Lizedison (1) 11 years ago

Like it! Will there be some sort of financial counseling or coaching to help prevent some from falling into debt again?

[-] 1 points by debtfree68 (5) from Yonkers, NY 11 years ago

Let's all meet at the nearest university and protest them for the soaring cost of college, rather than the bank who lent you the money you asked for to go to that college. A bit misplaced. Be true to your stated mission and include the people on your side of the political debate that commit offenses to it.

[-] 3 points by VQkag2 (16478) 11 years ago

College should be free! Like k-12! Glad Obama removed greedy banks from student loan equation. They were only interested in profit not students education.

Banks created this economic crash and should be punished with being forced to forgive crcard/stdnt loan debt for the 99%.

But yes I agree we should protest all tuition increases.

[-] -2 points by Nowsmichigan (-310) 11 years ago

Want free food, rent also??? How is that obummer phone working for you??

[-] 1 points by VQkag2 (16478) 11 years ago

"feed the people, who don't have enough to eat,

House the people, livin on the street"

Oh OH there's a solution" SM

What is an obummer phone.?

[-] -2 points by Nowsmichigan (-310) 11 years ago

Look on the web obama is giving away free paid phones. Feed the people and house them yes, (only the ones that need it) and not the ones that can fin for their selves

[-] 2 points by VQkag2 (16478) 11 years ago

Of course only those who need it!

End corp welfare, End tax shelters, havens, & shell co's for the lazy,greedy 1%.

Phones (service) were given away "free" to the poor during the Reagan Admin.

Why would you blame Pres Obama?

[-] 1 points by debtfree68 (5) from Yonkers, NY 11 years ago

I like what you are doing here very much, with one exception. Do you think most young people are in debt because of health care costs or not being able to put food on the table? Or is it just spending more than we earn? I see a lot of iphones and starbucks form folks who want someone else to eat their debt. Kind of weak.

[-] 1 points by JoeTheFarmer (2654) 11 years ago

The financial institution bailouts (T.A.R.P) were loans that were paid back with interest.

So will this be a loan program for the 99%?

[-] 1 points by hchc (3297) from Tampa, FL 11 years ago

I like it!!

[-] 0 points by ahansin (0) 11 years ago

In order to actually get mass support and be taken seriously, this campaign needs a copywriter who can make a clear distinction between the frivolous debt incurred not just by wall street but also by the 99%. It's not enough to say that we have "had to get into debt in order to live." Many hard working 99% americans are very disciplined and live within very meager means, and these people will never buy into magically eliminating the debt of all those "lazy" or "irresponsible" 99% folks who jump on the band wagon because they can. debt addiction is not only a wall street problem, which it is to a grievous and criminal extent, but it is at the very core of the American materialist psyche to "buy shit" we don't need simply because we want it and we have a credit card letting us do so. Feel free to get in touch for assistance crafting this message in video and copy.. www.hansinger.com



[-] 0 points by VQkag2 (16478) 11 years ago

Extraordinary. Great idea, job, Lotsa luck & success.

Support & Solidarity!