Occupy 'people's bailout' aims to cancel millions of dollars of
debt   By staff writers 16 Nov 2012  Occupy Wall Street has
launched a ‘Rolling Jubilee’ of debt cancellations, in a
“people’s bailout” campaign to wipe out millions of dollars of
debt.  Unlike bailouts by wealth countries and international
institutions, which have handed trillions of public money to
banks and financial institutions clobbered by a financial crisis
their greed helped to engineer, the “people’s bailout” is about
helping the 99 per cent.  It is based on generosity rather than
austerity, and uses a multiplier effect to reverse the standard
corporate idea that the poor should help the rich out of the
economic crunch.  The simple idea is to use donations to buy
bundles of toxic debt for pennies, and then cancel it.  Set in
motion yesterday (15 November 2012) through a telethon which
quickly 'sold out', the imaginative campaign has already raised
enough cash to knock out more than US$5.2 million worth of debt,
and contributions have sta