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Politics : The Obama - Clinton Disaster -- Ignore unavailable to you. Want to Upgrade?

To: DuckTapeSunroof who wrote (26848)	3/6/2010 5:09:43 PM
From: Wayners	Read Replies (2) \| Respond to of 103300

I read the same story earlier today and was going to post/comment on it later but you beat me too it. Iceland had 3 private banks that were highly leveraged at the casino, bet and lost. Too bad for them. If depositors were not insured, well too bad for them too. If those who lent money to the three private banks and there was no fraud involved, well too bad for them too. The average Icelandic citizen doesn't owe a single one of these failed private entities a thin Krona, period. Iceland is a good lesson to the rest of the world on why Governments and central banks cannot be in the business of bailing out "too big to fail" private entities. Now Obama has taken the U.S. down this same dangerous path.