Iceland Shows Banks Are Not Too Big To Fail

Few nations were hit harder initially by the financial crisis in 2008 than Iceland. It's economy had grown rich around four very large (relative to Iceland) banks that were players in the big global casino financial industry expansion.  In the U.S., U.K., and most other large developed countries governments responded with large bank-bailout packages.  The … Continue reading Iceland Shows Banks Are Not Too Big To Fail

Ireland: “Responsible” Policy Punishes Citizens for Bankers’ Sins

Poor Ireland.  For some unknown reason, the Irish seem doomed to suffer under the misguided rule of others, despite being the source of great music, culture and a brew so good      For centuries, the oppressor was the English.  In this century Ireland has fallen under the boot of the bankers and The Powers … Continue reading Ireland: “Responsible” Policy Punishes Citizens for Bankers’ Sins

Wall Street on the Tundra | vanityfair.com

Excellent, though long, article on the current economic crisis and Iceland.  Iceland is a small country that joined the globalized finance and banking bubble in a big way in the last 10 years.  The credit crunch and US housing price declines of 2007-09 have brutally punished this small northern Atlantic country. Read all about it … Continue reading Wall Street on the Tundra | vanityfair.com