theavc:

John Oliver gets into the debt-buying business, makes TV history

Last night, Last Week Tonight With John Oliver devoted about two-thirds of the show to debt buyers, who are in the unenviable position of making regular old debt collectors look good.

In a stunt similar to the founding of Our Lady Of Perpetual Exemption, Last Week Tonight formed Central Asset Recovery Professionals Inc., or CARP, which was promptly offered a nearly $16 million portfolio of medical debt in Texas for less than $60,000. Oliver and his staff snapped it up in an effort to show up Oprah Winfrey, among other things. Winfrey’s infamous car giveaway in 2004 was estimated to be worth $8 million, and held the record for biggest TV giveaway until Last Week Tonight forgave about $16 million of debt on air last night.

Full story at avclub.com

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