ash
- Thread starter argor
- Start date
I think they were hoping to get paid back in Cash not ash.
well c is not part of our alphabet so if we remove that we get ash so they are only getting what they ask for "ash"I think they were hoping to get paid back in Cash not ash.
Cool lightning displays in and around the ash plume! http://vimeo.com/24084400
As for that whole bank c(r)ash thing, why don't you Icelanders tell the brits and the belgians to go fuck themselves, that's what you ought to do... You're not responsible as a nation for what a few greedy bankers did.
As for that whole bank c(r)ash thing, why don't you Icelanders tell the brits and the belgians to go fuck themselves, that's what you ought to do... You're not responsible as a nation for what a few greedy bankers did.
I wonder who spent all that money (and on what) that those greedy bankers gave out as loans.
HAHA!
It could be like the US...bankers give out unworthy loans, make big bonuses, package the loans as derivative investment vehicles, make big bonuses, have the derivatives skyrocket in value way beyond their real value, make big bonuses, watch the derivatives tank...uh oh...get taxpayer bailouts, make big bonuses.
It's the bankers hoho.
Bankers only gave out "free money" as loans/credit cards to people, people chose to spend it on consuming random crap instead of using it to create something that would create more income for themselves. Now once the banks want their money back people don't want to remind themselves how they wasted the stuff the got on pointless stuff.
As for bailouts, yeah, that's an obvious failure of the government as a whole but it doesn't mean people had no part in the collapse. People still drove it all, just government chose to not have the banks collapse as they should have.
As for bailouts, yeah, that's an obvious failure of the government as a whole but it doesn't mean people had no part in the collapse. People still drove it all, just government chose to not have the banks collapse as they should have.
in some ways we already have but that most like wont come to that as the estate of the fallen bank landsbanki should cover minimum guarantee Deposits
here is the icesave saga in very short detailed
the uk used Anti-terrorism law to freeze landsbanki asset inn the uk also the assets of the Central Bank of Iceland, and the Government of Iceland in the uk
then they declarer iceland bankrupt
the doing of the uk made the financial crisis in iceland somewhat worse that it needed to be
then uk and holland paid out more that deposit insurance is in iceland and expect the Icelandic government to pay it with heavy interest so the end result would be that
uk and holland would have ended up with a decent profit out of this
and if the iceland would not go along with this then they threatened economy sanitations
that is basically the first part of the icesave saga
Dutch, not Belgians.
Anyway personally I don't really disagree, the UK and Netherlands governments have chosen to bail out their nationals who have invested money in dodgy foreign banks, but that was their choice.
Personally I think that
a) our government shouldn't have done that, and that
b) even if they did there's no real reason to go after Iceland for compensation.
If our governments regulatory systems had been good enough, those banks wouldn't have been allowed to trade here in the first place. But then again, had they been so, none of the other shit would have happened either.
So the regulatory systems weren't good enough and that is very clearly and unambiguously the fault of our previous Finance Minister from 1997 then Prime Minister Gordon Brown (who is from Scotland, by the way, haha).
This is not to say that Iceland isn't at fault - their regulatory systems were shit too. Along with most of the developed and wannabee-developed world.
This is where I disagree.
The government regulation of the activity of large financial institutions in most or all of the developed world has been demonstrably woefully inadequate. In the large part this is more or less deliberate (in the sense that they chose light-touch regulation, because it pumped the cycle).
Moreover governments have been very reticent to tell their individual voters that borrowing a crap-ton of money that you can't afford to pay back is a Bad Idea(TM). Nor that putting your life savings in a bank you've never heard of because the interest rates are so good is a Bad Idea(TM) too. More money on credit = more stuffs bought = more feel-good factor = blimey my life is better under this government rather than the other lot.
So... the fault lies with the nations/governments, and individual borrowers/savers as much as it does with the bankers.
here is a close video of the volcano taken today 5 ín the morning http://visir.is/section/MEDIA99&fileid=CLP4326
Similar threads
- Poll
