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Unknown Beatle

(2,672 posts)
Wed Oct 31, 2012, 02:36 AM Oct 2012

Iceland’s Economy now growing faster than the U.S. and EU after arresting corrupt bankers

At the start of the world wide 2008 economic collapse, Iceland was in worse shape than almost any other country in the world. Now they are one of the fastest growing economies in the world.

Imagine what America would be like today if we bailed out the victims of poor banking practices, while punishing the bankers who were responsible?

After watching this video, what you think? Was Iceland off their rocker for sending the bankers to jail, or on to something that America should have done as well?

7 replies = new reply since forum marked as read
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Iceland’s Economy now growing faster than the U.S. and EU after arresting corrupt bankers (Original Post) Unknown Beatle Oct 2012 OP
keeping scale in mind Joe Shlabotnik Oct 2012 #1
US politicians both dems and repubs don't have the needed true patriotism for that nt msongs Oct 2012 #2
My tomato plants do better after I spray them for aphids Scootaloo Oct 2012 #3
I love it.. can you invent a nifty Banker Spray sally5050 Nov 2012 #7
Yes, we could learn a lot of things from Iceland defacto7 Oct 2012 #4
American's would rather be owned by Mr. Charlie than be his equal. It takes less effort. n/t jtuck004 Oct 2012 #5
Will someone forward this link to Matt Taibbi sally5050 Nov 2012 #6

Joe Shlabotnik

(5,604 posts)
1. keeping scale in mind
Wed Oct 31, 2012, 02:49 AM
Oct 2012

It would take a certain longterm leadership plan (Gasp!...Industrial policy, rethinking hyper-financialism as a legitimate product, introducing protectionism, BOLD preservation of the environment, reducing empire.... etc), congressional will, pragmatism and understanding the reality of the world's condition in 30 years by the populace............. All of which are mostly fluff and denial at the moment.

 

Scootaloo

(25,699 posts)
3. My tomato plants do better after I spray them for aphids
Wed Oct 31, 2012, 03:09 AM
Oct 2012

And my cat's health surely improved after I got her de-wormed that time.

Imagine that. Removing parasites makes an organism healthier.

 

sally5050

(151 posts)
7. I love it.. can you invent a nifty Banker Spray
Wed Nov 7, 2012, 01:24 PM
Nov 2012

and then go to wallstreet and just spray it at 5pm when they get off work to go drink their martinis with the citizens money?

defacto7

(13,485 posts)
4. Yes, we could learn a lot of things from Iceland
Wed Oct 31, 2012, 03:11 AM
Oct 2012

and a few other countries as well. But for the US, it would be a different ball game. We are a huge country with many varied cultures and religions. We don't have what it takes to tackle that kind of task in less than generations. Now, firing and jailing the bankers... we could have done that. But since we didn't, it happened all over again; like clockwork it was meant to regenerate itself... and will happen again if we don't get our ass on a stick and teach them a lesson.

 

sally5050

(151 posts)
6. Will someone forward this link to Matt Taibbi
Wed Nov 7, 2012, 01:19 PM
Nov 2012

who said the Bailout was 'necessary'

we must use this election mandate of Obama to grow a backbone and start some serious prosecutions of the banking sector or risk the time bomb derivatives still hidden deep within the financial sector threatening as Libor did and others soon will to take us back to that moment in Sept. 2008 where we are on the brink of having no dollars in our ATM machines.

Will someone , anyone of leadership in the US propose doing what Iceland did to recover our economy?

Elizabeth Warren, Alan Grayson, anyone? Takers?

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