As of late 2012, they have already raised a half a million dollars and a lot of awareness. They will definitely not wipe out debt entirely, but they are changing the conversation in this country about what it means to go into debt and challenging people to understand the complex forces at work that conspire to keep people in debt rather than solvent. It is an unusual project but an innovative one that has already begun to relieve some debts, albeit small so far.
The ‘Rolling Jubilee’ project will be a lot more productive than sitting in parks and keeping people from getting to work. The project will help some people in debt by raising money to buy debt so that it may be forgiven. Not only will the Rolling Jubilee project help a few people in debt, the most important thing about it is that it makes a statement and it brings awareness about the consequences of greed and selfishness that takes place on Wall Street without being disruptive and counterproductive.
OWS wasted way too much time doing sit ins and having a large percentage of its people be there for no purpose other than to hang out and pretend they were accomplishing something. Even if they're trying to get some direction a year after they should have their time in the realm of relevance is long gone.
No, Occupy Wall Street's 'Rolling Jubilee' project will not work. “Rolling Jubilee” is a great idea and everyone involved with it should be given a hearty pat on the back for finding a solid, humanitarian way to help people. But sadly, it will not work because people who have money and power will not allow it to. People who have not suffered through this recession and who have never faced the loss of their homes or jobs are the people in positions of authority and they will continue to find laws that will keep the “Rolling Jubilee” from ever happening. That is such a sad commentary on us – that we have a way to really help people and will not be permitted to use it.