Forum Post: Remember Iceland?
Posted 12 years ago on Nov. 3, 2011, 3:54 p.m. EST by emanonman
(36)
from Lahaina, HI
This content is user submitted and not an official statement
For those of us with short-term memory problems, it might be instructive to read the article here: http://bellacaledonia.org.uk/2011/08/25/why-iceland-shold-be-in-the-news-but-is-not/
At the beginning of the 2007-08 financial crisis, Iceland literally went bankrupt. Then it let its' bank actually fail, rather than make the taxpayers bail out the banks, despite INTENSE pressure from the IMF and the global banking criminals.
There were all kinds of dire predictions concerning what would happen to poor Iceland from the banking bandits, and yet 5 years later the Icelandic economy is back and doing fine.
This is a lesson for Greece and other countries not to accept tax-payer bank bailouts in return for "austerity" (recession and cutting government spending - sound familiar?)) which is what we did in the US and what they want Greece to do.
Funny we don't hear anything in the media about the success of the country that just let its banks fail over Really Stupid investments..
What's up with that, do you think?
I think you're right, and your post is fantastic. I've been watching Iceland too. They arrested a lot of banker bandits, others fled the country. The people there protested for two whole years that I can remember. They were the first to rise up. Now look at them. The world could learn a lot from the people of Iceland.
Bill Black @ #occupywallstreet - Discussing Arresting Banksters
http://www.youtube.com/watch?v=4XJe7O-3QBc&feature=player_embedded
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William Black: Not With A Bang, But A Whimper: Bank Of America’s Derivatives Death Rattle
http://dailybail.com/home/william-black-not-with-a-bang-but-a-whimper-bank-of-americas.html
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Former Financial Regulator William Black: Occupy Wall Street A Counter to White-Collar Fraud
http://www.youtube.com/watch?v=zq-sO_uNaFw
(DemocracyNow!) Amy Goodman interviews William Black, a white-collar criminologist, former financial regulator, and author of "The Best Way to Rob a Bank is to Own One." Black teaches economics and law at the University of Missouri-Kansas City and recently took part in Occupy Kansas City.
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Thanks for the comment. I think as all the madness goes forward over months and years it is gonna become clearer just how rigged this whole bailout thing is. They don't call it "austerity" here in the US, but the economic pain is huge and the gov't spending cuts are right out of the bankers playbook.
Damn these guys. What a lot of arrogant sadists.