Tag Archives: Naked Capitalism

Say hello to America’s debtors’ prisons. The 19th century is all the fashion, bitches!

Did you know about this? I didn’t. (Charles Dickens however was very familiar with this particular script.)

Here’s the story at Naked Capitalism from 2010. It’s not only still going on, it’s far worse today. And in the new American way, we’ve invited private companies to handle the matter, with enough profits to – ahem – make a few campaign contributions to their favorite pols. It’s a whole new growth industry. (Because Elvis-forbid that States should add public sector jobs! If it’s jobbed out, and thus off the State payroll, and even though it’s more costly (in more ways than one), our elected officials then can’t be accused of adding government jobs when they run for re-election. Sweet.

The practice is spreading because it’s such a good economic model – spend State money to imprison debtors, then close them off from any avenue by which they could repay that debt. And in most cases, add a few fees and let them compound. Brilliant, yes?  And it’s so rightous. And godly.

Here’s a  CBS News story from April of this year: 

How did breast cancer survivor Lisa Lindsay end up behind bars? She didn’t pay a medical bill — one the Herrin, Ill., teaching assistant was told she didn’t owe. “She got a $280 medical bill in error and was told she didn’t have to pay it,” The Associated Press reports. “But the bill was turned over to a collection agency, and eventually state troopers showed up at her home and took her to jail in handcuffs.”

Although the U.S. abolished debtors’ prisons in the 1830s, more than a third of U.S. states allow the police to haul people in who don’t pay all manner of debts, from bills for health care services to credit card and auto loans. In parts of Illinois, debt collectors commonly use publicly funded courts, sheriff’s deputies, and country jails to pressure people who owe even small amounts to pay up, according to the AP.

I especially liked this part:

Some states also apply “poverty penalties,” including late fees, payment plan fees, and interest when people are unable to pay all their debts at once, according to a report by the New York University’s Brennan Center for Justice. Alabama charges a 30 percent collection fee, for instance, while Florida allows private debt collectors to add a 40 percent surcharge on the original debt. Some Florida counties also use so-called collection courts, where debtors can be jailed but have no right to a public defender.

#OccupyWallStreet – Oct. 5

POSTED BY ORHAN

The most authentic and thoughtful article I’ve seen on what’s occurring at Liberty Park is by Matt Stoller at Naked Capitalism.

This dynamic is why it’s so hard for the traditional political operators to understand #OccupyWallStreet. It must be an angry group of hippies. Or slackers. Or it’s a revolution. It’s a left-wing tea party. The ignorance is embedded in the questions. One of the most constant complaints one hears in DC about #OccupyWallStreet is that the group has no demands. Its message isn’t tight. It has no leaders. It has no policy agenda. Just what does “it” want, anyway? On the other side of the aisle, one hears a sort of sneering “get a job” line, an angry reaction to a phenomenon no one in power really understands. The gnashing of teeth veers quickly from condescension to irritation and back. Many liberal groups want to “help” by offering a more mainstream version, by explaining it to the press, by cheering how great the occupation is while carefully ensuring that wiser and more experienced hands eventually take over. These impulses are guiding by the received assumptions about how power works in modern America. Power must flow through narrow media channels, it must be packaged and financed by corporations, unions, or foundations, it must be turned into revenue flows that can then be securitized. It must scale so leaders can channel it efficiently into the preset creek bed of modern capitalism. True public spaces like this one are complete mysteries to these people; left, right, center in America are used to shopping mall politics.