On his show Last Week Tonight focused his attention on the dubious business of debt collection in which people’s debts to some institution are sold cheaply by that institution to agencies that then try and strong-arm people into paying them back, even if the debts have expired. Oliver shows how easy it is to set up a company that can purchase the debts of people.
One of the most common sources of major debt are massive hospital bills, a situation that should not exist in any civilized society. Using his new company, Oliver buys up $15 million worth of hospital debt for just $60,000 and then forgives them all, so at least those people won’t be hounded by creditors.
It is an excellent segment.