Saturday, 5 February 2011

Iceland Proves Ireland Did `Wrong Things' Sacrificing Taxpayers

Unlike other nations, including the U.S. and Ireland, which injected billions of dollars of capital into their financial institutions to keep them afloat, Iceland placed its biggest lenders in receivership. It chose not to protect creditors of the country’s banks, whose assets had ballooned to $209 billion, 11 times gross domestic product.

[Posted at the SpookyWeather blog, February 5th, 2011.]

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