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Politics : Politics for Pros- moderated

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To: LindyBill who wrote (277540)	10/30/2008 7:36:17 AM
From: Snowshoe	Read Replies (1) of 794098

>>What's happened in Iceland is an excellent argument for private banking.<< But the Icelandic banks were private until a few weeks ago when the government stepped in to bail them out! Those private sector bankers screwed up... 2008 Icelandic financial crisis en.wikipedia.org In late September, it was announced that the Glitnir bank would be nationalised. The following week, control of Landsbanki and Glitnir was handed over to receivers appointed by the Financial Supervisory Authority (FME). Soon after that, the same organisation placed Iceland's largest bank, Kaupthing, into receivership as well.

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