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Olafur Ragnar Grimsson ~ "Let banks go bankrupt"

submitted by Joe Motion

(lurgee)
1 decade 2 years 1 month 2 weeks ago

Iceland President Olafur Ragnar Grimsson tells Al Jazeera's Stephen Cole that Europe should let banks that are ran "irresponsibly" go bankrupt.

Speaking at the annual World Economic Forum in Davos, Grimsson also held his country as a model of economic recovery after its near-collapse four years ago.

"We didn't follow the traditional prevailing orthodoxies. And the end result four years later is that Iceland is enjoying progress and recovery."

Source, credit to Aljazeera- http://www.aljazeera.com/video

4 Comments

*promote

Promoting this video and sending it back into the queue for one more try; last queued Sunday, January 27th, 2013 5:50pm PST - promote requested by kulpims.

Nothing is and nothing was too big to fail. It was the largest theft in history organized by politicians. If banks don't their shit right, they need to suffer from it. I understand protecting the savings of individuals that would've been lost but not the worthless lines of text in some computer system that is used to create money from thin air.

Next: derivatives that will burst and even larger theft where rest of the wealth is transferred from poor to the rich. Then they can start to decrease our numbers.

PalmliX says...

Hear hear!

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