Occupy buys debt
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- autoflavour
this is actually pretty cool and would have helped a lot of people
- autoflavour0
wow.. no one cares?
- sine0
i haz some debts to sell. who wants it?
- lowimpakt0
it's a brilliant idea. not much else can be said
- ZOOP0
Excellent Idea! Should be in news of the day, you thread hoar. =)
- i figured given there is 20+ threads about monospace, we could vary it up a bitautoflavour
- lol okay good point
still a hoar though :DZOOP
- ZOOP0
My thoughts on the Occupy movement:
Stationary protests were too easy to crack, late night shakedowns and beatings. Next phase, and possibly more effective would be an extended protest march, Walk-upy. Carry signs, march along business and residential sections where people you know will see and possibly join in. Harder to stop than a sit-in and more people can participate, given the ability to maintain an income but still give time to something that truly needs to continue in some form.
- formed0
Next time there should be a clear message.
Debt - so is it just people with too much debt? What about those of us that never over extended or lived beyond our means? What I hate about so much these last few years is the [responsible] middle class get thrown to the curb.
- Paying off outrageous hospital debts @ 5% is a great idea actually.ZOOP
- ESKEMA0
It's medical debt only. Not stupid credit card spenders..
This is a great initiative.
- BrokenHD0
Someone should start a site where you can find your own personal debt and just buy that.
I'd buy that for a dollar.
Actually, that would really shake things up. Maybe once enough people in your own debt cluster accumulate, the bulk purchase kicks in, and, "poof" you all just bought your debt.
Let's start a kickstarter.
- brilliant!ZOOP
- You should know your own personal debt off-hand.monospaced
- Monospaced reigning down his happy pearls of aspergers wisdom as usualset
- ohhhhhsnap0
good good.
- ohhhhhsnap0
good good.
- 20020
Secondary debt market
High risk junk debt are sold from creditors (banks, credit card company, doctors office, pharmacy, medical companies, etc) to collectors. Because it is considered that it is a default with loss to creditors.
In this case, creditors (banks, credit card company, doctors office, pharmacy, medical companies, etc) lost $14,600,000 due to default. $15,000,000 worth of debt is sold as $400,000.
The debt was sold on $0.026 on the dollar.
- i.e. about what the medical costs should have been minus the corruptionZOOP
- what?2002
- The medical industrial is corrupt. Number one cause of bankruptcy. That's what.ZOOP
- You know this because?2002
- Because it's a fact?ZOOP
- Fact by you?2002
- Yes I created the modern U.S. medical infrastructure.ZOOP
- So you are corrupt?2002
- and uber wealthy!ZOOP
- well that settles it.2002
- HEADLINE ZINGER YEAH !!!!!! CORP BAD AND I WORK FOR NO CORP YEAH !!!2002
- the big picture must be stuck up you ass, because you can't see itZOOP
- 20020
"Actually, that would really shake things up. Maybe once enough people in your own debt cluster accumulate, the bulk purchase kicks in, and, "poof" you all just bought your debt."
What you are saying is that you dont want to pay for your spending. Let the debt rot until it becomes toxic and buy it back so you will only pay fraction of it?
- And let the business who trusted you to pay back, take the hit?2002
- Instead of another year of record profits and peddling influence in government? YESZOOP
- You willing to pay for taxes?2002
- Try reducing the excessive profit margins involved? In 1983 guess what your medical costs were.ZOOP
- If you don't know you're talking out of your hat. Research then come back.ZOOP
- So medical industry should be run like a charity or government?2002
- Seems like just read some zinger headlines and wiki search?2002
- 'research and come back'
isnt that what people who really dont know anything say?2002 - okay troll, you had me going for a while, because nobody can be this thickZOOP
- apparently you are that thick.2002
- that's what she saidZOOP
- seriously, that's what my ex said about my penis.ZOOP
- your mom said that to you? gross.2002
- you dated your mom? wth?2002
- clean yo screenZOOP
- says a man who self claims his penis is big. oh he swears2002
- thick, not big, but add what you like :D it bolsters the reputation!ZOOP
- Why are you talking about your penis to me? Seriously.2002
- http://www.qbn.com/t…ZOOP
- heh just like cheese for a mouseZOOP
- imagineallthepeople0
so they spend 400k, from donations I assume, on a publicity stunt?
- xpxhxoxexnxixx0
i think its awesome how something worth millions of dollars can get bought back for a fraction of what its worth. goes to show you what money (or what we call money) is really made of. nothing. its value is what people believe it to be at any given time. If someone cant pay their crazy million dollar overpriced medical bill, after a while, debt collectors go, "well then, give us anything you have." So, it was never a million dollars to begin with? god bless everything in america.
- albums0
we've been over this topic before. actions like this encourage people to default. why should i keep paying my bills because i am able while watching my neighbor get his debt bought by some kickstarter campaign he adds his name to?
this is a bad idea through and through
- wait until the real crash and hyper-inflation, tech jobs poof, global economies fucked... soonZOOP
- the whole subject could be rendered mootZOOP
- the debt that is being bought out are people in bad situations they aren't happy about it.uuuuuu
- Yeah, those morons that didn't plan on spending 100k in hospital bills, they deserve to lose everythinghereswhatidid
- the ones with pre-existing conditions, insurance cancelled and/or denied, yes damn them anywayZOOP
- kickstarter campaigns will encourage defaults, but the fact that any human can see other countries paying for things like healthcare through their own govt while we dont, wont encourage it? cmon
xpxhxoxexnxixx - having your debt bought out can never become normal or desirable considering its entirely a charitable action.uuuuuu
- ukit20
When the majority are deeply in debt, and some large percentage of those have already defaulted, has it occurred to any of you that the system might be deeply messed up? I love the concern about moral hazard when the banks themselves were bailed out by the taxpayers.
- sine0
not really zoop...
you know where the banks loaned more money from? chinaamerican banks gives everyone credit to buy shit.
shit made in china. where workers earn less, but save a lot more.
american banks are in trouble, because they don't have any of this money they gave away as credit. so who do they borrow from? china, where everyone saves and puts their money in the bank.china, this is america. america, say hi to china...
- yes really sine, this symbiosis is key to the imminent market collapse, we'll drag China down as wellZOOP
- ZOOP0
@sine
I think this is the point that you wanted to make, and why the two systems differ so greatly.The Secrets of China’s Economy: The Government Owns the Banks rather than the Reverse http://www.globalresearch.ca/the…
Communist governments with capitalist economies nationalize banking and prove it works, as opposed to what we're told to believe here (U.S.) about regulation of financial sectors. Panama tried this as our ally and we saw the results., a coup and the public debut of the F-117, sending a message to the "free world" that this could happen anywhere that defies U.S. banking policy. We the people are owned by debt, beholden to those that control where and how we live based on a three digit number.
- fadein111
Each individual in debt should set up their own small financial company (cost about £100).
Then buy their own personal debt back for a fraction of the price then boom - cancel it.
The key here is to buy it back with credit - then once bought and cancelled let the company go bankrupt.
Debt problems sorted :)
- set0
Money is debt. The banking system and currency is designed to create debt. When there is money there is debt. Debt will never, ever be paid off while currency in it's current form still exists.
Money was born from masons turned bankers who realised they could hand out paper 'I owe you's' for twice, five, ten times the value of the physical coin that those papers represented. The whole system is built to keep the masses in debt and the bankers rich.
I'm sure I'm stating the obvious to some, but for any kind of bright future, the whole monetary system has to be abolished...
- Yep we've all seen Zeitgeist :)fadein11
- How on earth we'll ever manage that, I have no idea.set
- Well my point is that all this paying off debt business is ultimately pointlessset
- Imagine if everyone just refused to acknowledge it. Then we'd be getting somewhere.set
- ...but of course it's a noble sentiment, and a step in right direction.set
- Fuck
You
Wall
Streetutopian