Occupy Wall Street Activists Buy-Up Debt to Abolish It | The Nation

LOS ANGELES, CA - OCTOBER 01: Protesters hold signs as they march to Los Angeles City Hall during the 'Occupy Los Angeles' demonstration in solidarity with the ongoing 'Occupy Wall Street' protest in New York City on October 1, 2011 in Los Angeles, California. The protesters slogan, 'We are the 99 percent,' calls attention to the fact that marchers are not part of the 1 percent of Americans who hold a vast portion of the nation's wealth. (Image credit: Getty Images via @daylife)

Occupy Wall Street Activists Buy-Up Debt to Abolish It | The Nation:

 "The idea might have been elegant, but it didn’t work in practice, because the banks wouldn’t play ball: they (and Freddie Mac) simply hated the idea of a homeowner being able to stay in their house after a short sale, and often asked for an affidavit from the buyer saying that the former owner would certainly be kicked out. "