Forum Post: What Iceland Teaches Us: “Let Banks Fail”
Posted 12 years ago on Nov. 7, 2011, 4:57 p.m. EST by MonetizingDiscontent
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Key Lesson From Iceland Crisis: “Let Banks Fail”
http://www.washingtonsblog.com/2011/11/key-lesson-from-iceland-crisis-let-banks-fail.html
What Iceland Teaches Us: “Let Banks Fail”
Agence France-Presse notes:
http://news.yahoo.com/key-lesson-iceland-crisis-let-banks-fail-003849604.html "...Three years after Iceland’s banks collapsed and the country teetered on the brink, its economy is recovering, proof that governments should let failing lenders go bust and protect taxpayers, analysts say."
Still a great idea.
Corroborating your 'forum-post' and missing your contributions whilst wondering where you are these days ;-) & ...
"More Icelandic Bankers arrested." : http://www.icenews.is/index.php/2011/01/20/more-icelandic-bankers-arrested/ &
"Iceland economy grows at fastest pace since crash." : http://www.icenews.is/index.php/2012/06/16/iceland-economy-grows-at-fastest-pace-since-crash/ .
fiat lux et fiat justitia ...
Well, it beats creating money out of thin-air to cover all the bets and degrade our currency so some filthy rich guy can get his pay-off.
Yes! YES! YES! Sorry, I am just not used to seeing someone demonstrate a great use of free market Capitalism. I am used to Neo-Liberal loonies, trying to convince me that we should leave Americans unemployed and bankrupt, while building up China and India, because the ultra rich will get more wealth and income, as a result....[Hail Satan!...(the ultra rich raise their devil hands in salute!)]
It is also a lesson for Greece as, if I understand correctly, they decided not to accept the terms put forward by the European Central Bank for a bailout.
Yes, Iceland is teaching the US, their politicians are not bought by the banks. Honesty, that is the lesson.