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MrsImperfect
They didn't bail out their banks and this is what happened!
March 7, 2013 at 12:02 PM
https://www.upworthy.com/a-country-decided-not-to-bail-out-its-banks-and-this-is-what-happened?c=bl3

Replies

  • MrsImperfect
    March 7, 2013 at 12:03 PM
    Sorry the link is to a video only.
  • brookiecookie87
    March 7, 2013 at 12:04 PM

    Here you go:



    For people who want a clicky:

    http://youtu.be/51-Jfh6ADH0

  • MrsImperfect
    March 7, 2013 at 12:18 PM
    ^ thank you! Thought it was clicky....sorry about that.
  • smalltowngal
    March 7, 2013 at 12:27 PM
    Can't watch it. Is it about Iceland?
  • SuperChicken
    March 7, 2013 at 12:27 PM

    Very interesting.  I don't know a lot about Iceland.

  • MrsImperfect
    March 7, 2013 at 12:57 PM
    Yes.

    Quoting smalltowngal:

    Can't watch it. Is it about Iceland?
  • Clairwil
    March 8, 2013 at 5:26 AM

    Things are not quite that simple.

    And Iceland didn't just let its banks default.   They insured the domestic investors got their money back, and shafted all the foreign investors.   There are long term consequences to this.

  • UpSheRises
    March 8, 2013 at 5:29 AM

    It's not exactly the same. The scale of the problem, for example, is quite different. 3 inches of snow is much different than 3 feet of snow. 3 inches...you can just wait for that to melt. 3 feet...you've gotta move it.

  • littlelamb303
    March 8, 2013 at 5:35 AM

    we should NOT have bailed out the banks.  This austerity measure that we are going through right now(sequester) is going to destroy us if something is not done.  Austerity in europe crippled their economy.

  • Jennygurl09
    March 8, 2013 at 6:17 AM



    Quoting littlelamb303:

    we should NOT have bailed out the banks.  This austerity measure that we are going through right now(sequester) is going to destroy us if something is not done.  Austerity in europe crippled their economy.

    They are crippled because of a handful of unproductive countries actually, along with ridiculous social programs that are far too generous. 


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