Iceland is set to become the first European country to beat its pre-crisis economic output. Back in 2008, the country suffered the biggest banking collapse in history, seven years on - it's one of the best countries for business. Iceland population 330,000 is showing America how to put the bankers behind bars. Unlike the courtrooms here in the States where the jury is supposedly to dumb to understand the MIT finance science involved with banks today, clever littleloop hole for the masters of finance but the focus is on the fail, not the build. This is a perfect example of Ayn Rand ethics is corruption, the tools used are permissible in this type of accounting practice regardless the outcome? The fight continues for justice in the States, ten of the biggest Wall Street banks and two trading platforms face a US class-action suit accusing them of conspiring to limit competition in the $320 trillion market for interest rate swaps.
But in Iceland it's a cold day in hell that this little European country considers to big to fail; “The bankers were rock stars they were heroes. In the pre-crash years, they were called corporate Vikings,” said Helgason, an economic historian at the University of Bifröst. “There’s a point when banks become too big to fail but in Iceland, they were too big to bail out.”
RT
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