Industrialized Cyclist Notepad


Iceland Wins

again..

via Krugman: http://krugman.blogs.nytimes.com/2012/07/08/the-times-does-iceland/

Here’s an idea: Make the banks, rather than the public, eat the losses that the banks created.



Meanwhile, in Iceland… Part 2

Iceland’s special prosecutor has said it may indict as many as 90 people, while more than 200, including the former chief executives at the three biggest banks, face criminal charges.

Larus Welding, the former CEO of Glitnir Bank hf, once Iceland’s second biggest, was indicted in December for granting illegal loans and is now waiting to stand trial. The former CEO of Landsbanki Islands hf, Sigurjon Arnason, has endured stints of solitary confinement as his criminal investigation continues.

That compares with the U.S., where no top bank executives have faced criminal prosecution for their roles in the subprime mortgage meltdown.

via Icelandic Anger Brings Debt Forgiveness in Best Recovery Story – Bloomberg.



Meanwhile, in Iceland…

While Greece and Europe continue sinking ever deeper into the colonial quicksand of Pax Goldmania, Iceland, which blew up, pushed its banks into bankruptcy, and arrested its corrupt bankers, is well on its way to being the world’s only normal country.

via In The Meantime Iceland Is #Winning | ZeroHedge.