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Faust100F
Advisor

Iceland - why letting banks fail was the right thing to do

Iceland did what the United States and Europe should have done . . . let banks fail.  In Davos, Switzerland the Banksters who fleece the muppets met this week, also there in attendance was the President of Iceland talking how we screwed up, and how Iceland is now a booming economy.  Perhaps it is time to get rid of the "vampire squids" aka Goldman, J.P. Morgan et.al.,  sucking the lifes blood out of this country.  The article from zero hedge has a video so I did not post the article but the site address.  Enjoy, John

 

http://www.zerohedge.com/news/2013-01-26/only-3-minutes-worth-listening-davos 

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2 Replies
k-289
Senior Advisor

Re: Iceland - why letting banks fail was the right thing to do

I wouldn't quite dump my shares of GOLDmany - SACkS the taxpayer yet --- first find the ""political will "" of the beltway to do anything of the sort in this" part time " varity " of  "capitalism "  pick and chose who the players are for the depth of pockets of the lobbists that churns through our system --- maybe just maybe we could get a clue from the Scandanavian folks about calling a herring a herring  ---

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Kay/NC
Honored Advisor

Re: Iceland - why letting banks fail was the right thing to do

The truth is, if you want to extinguish a behavior, then you simply must let its perpetrator suffer harsh consequences.  Bailing out a midbehaving bank or a bad credit card user won't teach either one not to screw up again.  

 

If four years fter taking our nation, and the world's economy along with it, to the brink of collapse, banks  are earning record profits, it is time to collect some fines, if not let some folks do time.  

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