Iceland President: Let Banks Go Bankrupt

[expandspanos]

[youtube]https://www.youtube.com/watch?v=DDexDNn6vSM[/youtube]

If your small auto-body shop goes out of business you're out of luck.

If you're gambling with trillions of dollars in order to make the maximum profit- you should also be out of luck, but no, us taxpayers foot the bill so these financial rip-off-artists can keep on ripping us off

Icelands president: Let the banks go bankrupt.

It is a MYTH that if we don't bail-out the banks the economy will collapse- the reason the economy is in such bad shape is largely due to these huge banks and these big banks aren't lending money anyway. Real local banks will take over and fill the vacuum- Banks who actually have morals and standards and aren't "too big to fail."

[Pwns]

I'm sure US corporations with annual budgets around the size of Iceland's GDP don't need any credit. Who cares if they have no one to turn to to get money when they need it. Tell the banks to go to hell.

[89Hen]

Didn't we do this two months ago?

[expandspanos]

I'm sure US corporations with annual budgets around the size of Iceland's GDP don't need any credit. Who cares if they have no one to turn to to get money when they need it. Tell the banks to go to hell.

Iceland's proportional GDP is much smaller, it's comparing apples and oranges, however, proportionally it's all the same- they are doing great.

You've bought into the "we have to bail the banks out stuff" huh?

[youtube]https://www.youtube.com/watch?v=tGk5ioEXlIM[/youtube]

[CAA Flagship]

Didn't we do this two months ago?

Forget it he's rolling.

[youtube]http://www.youtube.com/watch?v=ToWcEqQhnIU[/youtube]

[kalm]

Didn't we do this two months ago?

Has anything really changed for the big banks since 2008? Did they learn the lesson of excessive risk taking? Have the fundamental problems been fixed?

[89Hen]

Didn't we do this two months ago?

Has anything really changed for the big banks since 2008? Did they learn the lesson of excessive risk taking? Have the fundamental problems been fixed?

Have we not agreed that we modelling our banking system after a country with the GDP of the Girl Scouts is folly?

[kalm]

Has anything really changed for the big banks since 2008? Did they learn the lesson of excessive risk taking? Have the fundamental problems been fixed?

Have we not agreed that we modelling our banking system after a country with the GDP of the Girl Scouts is folly?

Because our banking system is so big and complex that common sense regulations and enforcement can't possibly apply. It's like a magical machine that only those responsible for breaking it can possibly understand!

[89Hen]

Have we not agreed that we modelling our banking system after a country with the GDP of the Girl Scouts is folly?

Because our banking system is so big and complex that common sense regulations and enforcement can't possibly apply. It's like a magical machine that only those responsible for breaking it can possibly understand!

Huge difficulty points on the dismount there Kalm. Quite the leap from letting them go bankrupt to common sense regulations and enforcement.

[Ibanez]

Has anything really changed for the big banks since 2008? Did they learn the lesson of excessive risk taking? Have the fundamental problems been fixed?

Have we not agreed that we modelling our banking system after a country with the GDP of the Girl Scouts is folly?

I thought so. The GDP of Iceland is roughly $14 Billion.

[89Hen]

Have we not agreed that we modelling our banking system after a country with the GDP of the Girl Scouts is folly?

I thought so. The GDP of Iceland is roughly $14 Billion.

And the US is $14,830 Billion

[Ibanez]

I thought so. The GDP of Iceland is roughly $14 Billion.

And the US is $14,830 Billion

The World Bank says $15 Trillion.

[kalm]

Have we not agreed that we modelling our banking system after a country with the GDP of the Girl Scouts is folly?

I thought so. The GDP of Iceland is roughly $14 Billion.

So? The same concepts don't apply? Does this mean we can ignore austerity because Greece has a small economy?

[Ibanez]

I thought so. The GDP of Iceland is roughly $14 Billion.

So? The same concepts don't apply? Does this mean we can ignore austerity because Greece has a small economy?

I didn't say that. The concept may apply, but considering the economic enviroment of the US, it's different than Icelands and that should be taken into consideration.

[kalm]

So? The same concepts don't apply? Does this mean we can ignore austerity because Greece has a small economy?

I didn't say that. The concept may apply, but considering the economic enviroment of the US, it's different than Icelands and that should be taken into consideration.

Sure. I just think dismissing Iceland's success because of it's size is lame. There are lessons to be learned there. Just like there are in how Sweden dealt with its banking crisis as well as other countries.

[89Hen]

I didn't say that. The concept may apply, but considering the economic enviroment of the US, it's different than Icelands and that should be taken into consideration.

Sure. I just think dismissing Iceland's success because of it's size is lame. There are lessons to be learned there. Just like there are in how Sweden dealt with its banking crisis as well as other countries.

Again, a big leap Kalm.

[Baldy]

If we need to model our banking system after someone else, it should be the Canadians.

[kalm]

If we need to model our banking system after someone else, it should be the Canadians.

Yes, there's something to learned from them as well.

[kalm]

Sure. I just think dismissing Iceland's success because of it's size is lame. There are lessons to be learned there. Just like there are in how Sweden dealt with its banking crisis as well as other countries.

Again, a big leap Kalm.

Not really. It's just a hop, skip, and a jump.

[Ibanez]

I didn't say that. The concept may apply, but considering the economic enviroment of the US, it's different than Icelands and that should be taken into consideration.

Sure. I just think dismissing Iceland's success because of it's size is lame. There are lessons to be learned there. Just like there are in how Sweden dealt with its banking crisis as well as other countries.

Agreed. We should take lessons learned. This goes for everything, health care, gun laws, drug laws, etc..

[Grizalltheway]

If we need to model our banking system after someone else, it should be the Canadians.

Oh sure, NOW you like the socialist Canucks.

[89Hen]

Again, a big leap Kalm.

Not really. It's just a hop, skip, and a jump.

That can be pretty far.

[youtube]http://www.youtube.com/watch?v=2DIN4Q5yT9M[/youtube]

[YoUDeeMan]

Not really. It's just a hop, skip, and a jump.

That can be pretty far.

[youtube]http://www.youtube.com/watch?v=2DIN4Q5yT9M[/youtube]

Now you've done it, 89. expandos will be able to quickly refute your video as British government propaganda.

Everyone knows white men can't jump.