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Politics : The Obama - Clinton Disaster
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To: Wayners who wrote (26854)3/9/2010 11:05:54 AM
From: DuckTapeSunroof  Read Replies (1) of 103300
 
Re: "If depositors were not insured, well too bad for them too."

I think the complaint revolves around the fact that Iceland's government offered deposit insurance on the deposits at these private banks (the same way that our government does) then when these banks failed Iceland only paid off for IT'S OWN CITIZENS and did not pay for the deposits that foreigners (English, Danish, etc.) had lost when the banks blew up.

That is the complaint that the foreigners have. They say that *nothing* in the deposit insurance regulations said that it was 'only' for locals. If it HAD said that they would have never put their deposits in the banks....

Re: "too big to fail" private entities. Now Obama has taken the U.S. down this same dangerous path.

Er... Wayne, you do remember that the banks were bailed out (TARP) during the administration of President BUSH, (not Obama), don't you? It wasn't that long ago....
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