Little Iceland kicks UK in the face

absolutely. the treatment obama received in china and the Copenhagen is just a prelude for the US and Europe.

correct. risk should not be taken out of financial transactions by government fiat.
 
I think you have this all wrong, guys...

Iceland is f*cked, really f*cked. They simply have nothing to lose at this point (except, of course, the IMF lifelines and what little remains of their credibility; see how they immediately got downgraded, as soon as the news came out). That's the reason why they're still playing games with Icesave, not because they want to stand up for what's right and show The Gord and the UK public who's boss.
 
As Americans, we definitely shouldn't want a precedent set that a national government should be on the hook for the fraud committed by its financial institutions on foreigners.
 
Quote from Martinghoul:

I think you have this all wrong, guys...

Iceland is f*cked, really f*cked. They simply have nothing to lose at this point (except, of course, the IMF lifelines and what little remains of their credibility; see how they immediately got downgraded, as soon as the news came out). That's the reason why they're still playing games with Icesave, not because they want to stand up for what's right and show The Gord and the UK public who's boss.
More...

I've not read news stories (and I've looked) for starving Icelanders, or how the locality has collapsed and people are running through the street with weapons, rioting.

So what's f*cked? The banking industry? They seem to be doing ok otherwise. Interesting, isn't it?
 
Quote from ipatent:

As Americans, we definitely shouldn't want a precedent set that a national government should be on the hook for the fraud committed by its financial institutions on foreigners.
More...

Isn't that what the bailout of AIG (and thus, it's counterparties) was all about?
 
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