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A comment on The People's Bailout. Parent comment

Re:The People's Bailout by unomateo on Thursday November 08, 2012 @11:12PM (#4761249)
I was thinking the same thing... To make this a better program they should buy someones debt, in the example they bought a $14,000 debt for $500. The person that had the debt removed should pay $1,000 back to OWS. Then OWS can buy 2 more... and so on. Unfortunately, the person that had the debt removed will probably just create more debt for themselves
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Re:The People's Bailout by bendmorris on Thursday November 08, 2012 @11:17PM (#4761272)
Buying someone's debt and hoping to make more than you paid is what any collection agency does.
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Re:The People's Bailout by malandrew on Thursday November 08, 2012 @11:24PM (#4761293)
I'm interested in knowing if there is a business model in an "eBay or SecondMarket for personal debt" where anyone could buy and sell the debt of other people.

I get the feeling that there is disruption possible in this industry but I don't know enough about it to speculate how it could be disrupted.

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Re:The People's Bailout by TheAmazingIdiot on Friday November 09, 2012 @03:38AM (#4761926)
Sounds great.

So the mob will start buying debt from targeted individuals and have a "chat".

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