Iceland’s Economy Now Growing Faster Than the U.S. And EU after Arresting Corrupt Bankers
CAPITALISM, 8 October 2012
by American Live Wire – TRANSCEND Media Service
Iceland didn’t follow the rest of the world by bailing out bankers. Surprisingly, they arrested them instead. Now their economy is recovering faster than the EU and the United States.
Remember when the United States government told the American people that action was required to save the banks? Action in the form of Billions of dollars of debt. Hard to forget that. Hundreds of Billions of dollars in National debt later were still digging our way out of the hole.
At the start of the world wide 2008 economic collapse, Iceland was in worse shape than almost any other country in the world.
Imagine what America would be like today if we bailed out the victims of poor banking practices, while punishing the bankers who were responsible instead of bailing them out.
After watching this video tell us what you think? Is Iceland merely being a rebel desperate for revenge against a powerful industry, or on to something that America should have done as well?
This work is licensed under a CC BY-NC 3.0 United States License.