<<A funny thing happened on the way to economic Armageddon: Iceland’s very desperation made conventional behavior impossible, freeing the nation to break the rules. Where everyone else bailed out the bankers and made the public pay the price, Iceland let the banks go bust and actually expanded its social safety net. >> That would have been my plan for the United States. Let the bad banks go bust --- they would be punishing THEMSELVES for their bad behavior. Use Federal spending to pick up the pieces after that.Instead Obama bailed out the bad actors and now wonders why the same bad actors are still in place.Seattle Pioneer
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