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Reply #43


Response to xchrom (Original post)

Mon Nov 12, 2012, 11:04 AM

43. To all those concerned about credit ratings...

Ask anyone hounded by a debt collector if having that harassment end doesn't improve life 100%. Sure, this is no cure-all but just because it doesn't wipe the slate clean in every way is a pretty weak criticism.

I don't think it can ever get very big because if enough money went into buying bad debt to really make a huge dent in the problem, the cost of that debt would automatically increase. (Buy participating in a market for it, Rolling Jubilee will make the debt itself command ever-increasing prices, reducing the leverage the scheme relies upon.) But the real point is to put the debt issue front and center.

If it did grow to the point that it truly affected the debt market, that in itself would be a huge victory, and would not happen without triggering a lot of debate about what's really happening...

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xchrom Nov 2012 OP
Live and Learn Nov 2012 #1
SickOfTheOnePct Nov 2012 #3
djean111 Nov 2012 #6
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xchrom Nov 2012 #5
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xchrom Nov 2012 #32
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LineReply To all those concerned about credit ratings...
caraher Nov 2012 #43
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DaveJ Nov 2012 #50
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jtuck004 Nov 2012 #71
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