Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: SGJ who wrote (32596)	6/29/2010 6:10:48 PM
From: Wayners	Read Replies (1) \| Respond to of 103300

What should have happened is the Icelandic Govt should have stayed out of the whole thing. The Central Bank was OK. Let the too big to fail banks....fail...take whatever assets the banks had....hand those out in accordance with the established pecking order of who gets paid first...and when the assets run out...everybody else is screwed. If you don't have deposit insurance too bad. If you are wholly invested in Kronur assets...well you are screwed. Instead the Govt meddled and tried to prevent those speculating in 15% interest rates from losing a dime, and the country is now completely broke because of it. Iceland never should have Nationalized the failed banks, they never should hvae provided deposit insurance that didn't really exist, and they shouldn't now be restricting the use of foreign currencies because those people were smart to dump the kronur and get hard foreign currencies when the Kronur was so clearly way overvalued...even using the Big Mac index.