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North America / Caribbean > Debtor's Revolution: Are Debt Strikes Another Possible Tactic in the Fight Against the Big Banks?

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message 1: by [deleted user] (new)

What does it mean to stop cooperating with the banks? Some activists, organizers, and technologists think the answer might be mass refusal to pay debts.

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message 2: by Dawn (new)

Dawn (dawnv) | 82 comments I am not sure if I agree with that. On the one hand I agree with protesting high interest but at the same time you agreed to this debt.

Anyone else?

message 3: by [deleted user] (new)

Here's one participant's view:

message 4: by [deleted user] (last edited Nov 08, 2011 10:33PM) (new)

Another article on the subject:

50 Ways to Leave Your Banker: What Happened When One Man Just Refused to Pay $80,000 in Credit Card Debt

I kind of agree with what he's saying here:

Katz wants the millions of Americans buried in debt to stop feeling guilty about not honoring their obligations. "People are brainwashed to think that paying a credit card is more important than paying for the necessities of life," he says. "Business and morality have nothing to do with each other, according to the bankers." One of Katz's mottos is "No one ever went to hell for not paying a debt."

We've been socialized to see debt as a moral issue, which is why there is such a social stigma attached to filing for bankruptcy or defaulting on a mortgage.

message 5: by Shelley (new)

Shelley | 48 comments As long as they're in school or working, all student debt should be forgiven.

Student debt now surpasses credit card debt in this country, and there's no way they'll ever have incomes enough to pay it back.

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