Cause for jubilation?

By MARC MEWSHAW  |  November 28, 2012

Consumers themselves bear much of the responsibility for these high debt levels, but the explanation isn't that simple. From teaser rates on credit cards to usurious payday loans to the empty promise of upward mobility dangled by for-profit universities, society is now more than ever laden with debt traps that prey on the poor and financially illiterate.

The beauty of the Rolling Jubilee is not that it's a panacea, but that it asks: predatory institutions have had their bailout — why shouldn't the people have theirs? In posing that question, it challenges the assumptions that underpin a status quo in which individuals are systematically exploited and corporate megaliths always seem to come out ahead.

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