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Politics : THE WHITE HOUSE -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (23494)	10/8/2008 10:03:06 AM
From: DuckTapeSunroof	Read Replies (1) \| Respond to of 25737

Iceland is actually not listed for sale. :-) (Still... Russia just invested to help bailout Iceland's banks.) Iceland privatized it's banks a couple of years back... and then allowed these newly private banks to put on a large amount of leverage (high percent of loans outstanding compared to reserves at the bank...), the same thing sort of 'leverage run wild' that happened in the U.S., and then Iceland's banks collapsed into effective bankruptcy. (Without prudent oversight and regulation... excessive risk taking brought them down.)