To be clear, I was referring to the guardian article not the show. In particular, this section:
“It punches a hole through the morality of debt, through this idea that you owe X amount of dollars that the 1% says you owe. In reality, that debt is worth significantly less. The 1% is selling it to each other at bargain-based prices. You don’t actually owe that.”
Of course, the amount one owes is still the same, regardless of how much the lender sell it off for. These are debt that banks had trouble collecting on, so its 'value to the bank' is less than performing debt, and sometimes they sell it at discount. It doesn't affect the 'amount owed' one bit.