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Forum Post: What Iceland Teaches Us: “Let Banks Fail”

Posted 10 years ago on Nov. 7, 2011, 4:57 p.m. EST by MonetizingDiscontent (1257)
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Key Lesson From Iceland Crisis: “Let Banks Fail”


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."



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[-] 1 points by Nevada1 (5843) 10 years ago

Still a great idea.

[-] 1 points by shadz66 (19985) 10 years ago

Corroborating your 'forum-post' and missing your contributions whilst wondering where you are these days ;-) & ...

fiat lux et fiat justitia ...

[-] 1 points by HitGirl (2263) 10 years ago

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.

[-] 1 points by MJMorrow (419) 10 years ago

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!)]

[-] 1 points by SwiftJohn (79) 10 years ago

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.

[-] 1 points by DonQuixot (231) 10 years ago

Yes, Iceland is teaching the US, their politicians are not bought by the banks. Honesty, that is the lesson.