[riri]

I heard a piece of info yesterday that after the crisis, after the Finance Minister was arrested they looked at the "secret documents: and saw the Icelanders only, personally, owed 7% of that debt. The rest was signed onto by the gov't in the form of derivatives that the UK had created and that Icelandic officials agreed to back/bail out. The Icelanders paid the 7%, cut taxes and their economy actually started to grow.

These private mega banks with their counter part the IMF and World Bank are cancers. They fund and influence elections to continue to behavior of the debts to them. Then the people are beholden to the governing class and themselves. They force them to go along with the taxes and regulations which only cause more debt and less economic improvement.

Sure, the people hold much of the responsibility. They take the bait, again and again.

[familyop]

I had only read that some UK bankers were rejected by Icelanders. Thank you for the important piece to the puzzle.