Size Matters: It is refreshing to see the 326,000 citizens of Iceland tell the British and Dutch – and their own elected capitalists – that they have no desire to pay for the greed of Icelandic bankers or the stupidity of European investors. The $6 billion “owed” comes to $18,000 a person, which is a ridiculous amount for innocent bystanders to have to come up with. In the US, the each citizen now owes $40,000 to bail out the bankers – enough to keep us all in debt for decades. But we’ll pay up and keep envying Icelanders for doing what we are too cowed to contemplate. (Source)
Angry Iceland defies the world (of banksters)
Iceland’s president has blocked a Bill to pay Britain and Holland up to £3.4bn for Icesave depositors, acknowledging that popular feeling in the island nation is too strong to proceed without a referendum. (Source)
Iceland had 3 main banks who all, albeit to various degrees, made unrealistic profits for investors and depositors in early 21st century times, and then went bust. One bank, Icesave, which had many clients in England and Holland, owes these clients some $6 billion. The people of Iceland, all 320,000 of them as it were, have started questioning why they should pay for foreign investors’ losses with banks with whom they have no connection other than that they happen to be located in their country. (Source)
Unlike Iceland, in the US Banksters Get What They Want and MORE In its draft regulatory filing, AIG revealed that it had passed TARP bailout money on to several banks, notably paying Goldman Sachs 100 cents on the dollar. Tim Geithner, then President of the NY Fed, told them to withhold that sort of detail from the public record, so they did. (Source)
Meanwhile, Obama in a recent speech about banker’s bonuses the underwear bomber said, “”We will not succumb to a siege mentality that sacrifices the values that have made us great,” he said. “That is exactly what our adversaries want, and so long as I am president, we will never hand them that victory.”
That is good to know.