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Excerpt: "Iceland didn’t follow the rest of the world by bailing out bankers. Surprisingly, they arrested them instead."

Iceland's economy is growing faster than the EU or the US. (photo: Graham Barclay/Bloomberg News)
Iceland's economy is growing faster than the EU or the US. (photo: Graham Barclay/Bloomberg News)

Iceland's Economy Growing After Arresting Corrupt Bankers

By American Live Wire

03 October 12


celand didn't follow the rest of the world by bailing out bankers. Surprisingly, they arrested them instead. Now their economy is recovering faster than the EU and the United States.

Remember when the United States government told the American people that action was required to save the banks? Action in the form of Billions of dollars of debt. Hard to forget that. Hundreds of Billions of dollars in National debt later were still digging our way out of the hole.

At the start of the world wide 2008 economic collapse, Iceland was in worse shape than almost any other country in the world.

Imagine what America would be like today if we bailed out the victims of poor banking practices, while punishing the bankers who were responsible instead of bailing them out.

After watching this video tell us what you think? Is Iceland merely being a rebel desperate for revenge against a powerful industry, or on to something that America should have done as well? your social media marketing partner


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+44 # teachnet 2012-10-03 14:53
The point is well taken, but the frame is wrong.

Yes, we needed to arrest the bankers, the government, the corporate CEOs, the whole lot of them.

But, Iceland's "growth" is far less to be desired than its stabilization and degrowth.

Growth is a mindset imposed and reinforced through education and propaganda from the aforementioned who need arresting. The very last thing Iceland or any land needs is growth. Growth is the Midas Virus, turning life into money and bringing wealth to the rulers until the entire world is dead.

We need to catch ourselves from nodding in benumbed "agreement" whenever we see a headline containing the false positive, "growth". Arresting the banking-governi ng-corportocrac y wouldn't be a bad idea, either.
+14 # Granny Weatherwax 2012-10-04 17:57
Growth for the sake of growth is the mentality of a cancerous cell.
+20 # SMoonz 2012-10-03 23:13
The key was Iceland refused to bail out any banks, held them responsible for their screw ups and went ahead and declared bankruptcy.
Here in the U.S. the banks were "too big to fail," Congress was threatened with Marshall Law if the bailout did not go through.
+10 # OldRedleg 2012-10-04 08:12
Sorry if this is considered nitpicking, but it is also educational:

"Marshall" is the spelling of a person's name.

"Marshal" is generally a law-enforcement (or rule-enforcemen t) official.

"Martial" pertains to military influence or control, hence "Martial Law."

Isn't english a strange and confusing language?
+6 # SMoonz 2012-10-04 10:51
No problem, it is worth pointing out. In this case I don't consider it nitpicking because it was a clear oversight on my behalf.
I did mean to write "Martial."
+3 # Granny Weatherwax 2012-10-04 17:58
To be more precise, Martial means "of Mars" (the god of war).
+26 # grouchy 2012-10-04 01:31
I wondered from the beginning when we were talking about plugging money into the banks here, what would happen if we just divided up those bucks among American citizens and let them do what citizens do with money; spend it! That would get it into the system from the bottom up and the banks would have to work for their share! A truly shocking idea.
+18 # JetpackAngel 2012-10-04 01:31
Now here's something you don't hear in the mainstream news media...
+14 # CoyoteMan50 2012-10-04 08:38
I said this years ago and I'll keep saying it! That bailout was the biggest scam ever perpetrated on the Earth!
We all should do what Iceland did! Toss the banksters and Wall Street in jail and start over!
But then you see the rich won't be worth anything so they will fight this with armies of cops, lawyers and the CIA to keep the status quo.
+9 # mppeace 2012-10-04 11:35
Actually, the convicted banksters shouldn't be sitting in jail. They should be required to work off the debts they imposed on the island nation(no slave labor, just 8 hours a day, 5 days a week--until they pay off every last penny(or krona or whatever their currency is called)of the fraudulent crime is paid off! Isn't that a better detriment to potential "aspiring banksters"?
+5 # MendoChuck 2012-10-04 12:53
To bad but our government allows Justice only for those that can afford it . . . . . Haven't you noticed that Lawyers make laws for other lawyers to make money.

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