Vestmann opened this issue on Jan 09, 2010 · 12 posts
Vestmann posted Sat, 09 January 2010 at 8:57 PM
Quote - I've heard of it, but don't know much. Sounds like the same bubble-idiocy that
has infected the US, UK, and many other countries. We should be trying to
learn from the countries that didn't collapse, like Canada. And the lesson isn't
mysterious at all ..... just keep a VERY tight rein on bankers. We learned the lesson in
1933, then forgot it in 1999.
You're right there Ockham. They showed a documentary about the great stock market crash here in Iceland after our banks collapsed and the similarities were amazing. Our banks were privately owned and there were just a handfull of banker-hotshots who amassed this huge economic bubble with little or no supervision from the authorities. Much like in the stock market crash if I´m not mistaken.