Actually, Iceland was in the news a while ago for (re 2008) tackling its banking crisis. Unlike a lot of other countries it tackled it by letting its big banks fail, several years of checking for irregularities throughout the banking sector, and sending people to jail for as much as 3 or 4 years. The link below is a fascinating analysis of how they turned their crisis around, how they did NOT follow less successful reactions in Europe and the US, which will allow the same troubles to burst out again in the future. They had to work on improving their tourism business since big companies are unlikely to want to deal with their careful governance policies. Tourism now is 3 times larger than it was before 2008. There are lessons here.
https://www.bbc.com/news/business-35485876
No, the socialist regime scapegoated banks, and that’s all there is to it.