VixJ 🇪🇺💙
Dan Wentzel 🏳️🌈"Unlike other Western economies, the Icelandic government let its three major banks - Kaupthing, Glitnir and Landsbankinn - fail and went after reckless bankers. Many senior executives have been jailed" - BBC
#Iceland
SamHughes@danwentzel Exactly. Unfortunately Dan, the population of Iceland is significantly smaller then America, Britian, France etc. Letting Banks fail would result if a much larger catistrophic economic meltdown.
Now part 2 of what you said. Executives being charged and jailed. Agree. Western countries do not charge or jail Financial Institution executives. They handcuff them to make the public believe something is going to happen, but nother ever happens.
Now part 2 of what you said. Executives being charged and jailed. Agree. Western countries do not charge or jail Financial Institution executives. They handcuff them to make the public believe something is going to happen, but nother ever happens.
najaraviel@danwentzel absolutely
Doug Baker - Elbows Up! 🇨🇦@danwentzel Only country that put bankers in jail.
Big Head Tales@danwentzel This is a good argument to end corporate welfare for billionaires.
Elon Musk stick@danwentzel sounds a bit commie
Christian Kent@danwentzel @corbden Gosh, letting banks fail is so CAPITALIST and LIBERTARIAN
And no, you don’t have to let the citizens suffer.
Adrian Morales@danwentzel Iceland has a population of 347,168 as of last Thursday. I'm pretty sure everyone's related or knows each other, so when someone messes up, folks are going to know about it. They're going to do something about it too:
Pär Björklund@danwentzel the article doesn't really support the last sentence in the image
"We just had to accept the losses, accept a world with much lower real wages, much lower living standards. I think in many ways this is something other Western countries will have to face.
Heskie@danwentzel
They probably don't have a banker as Prime Minister?
They probably don't have a banker as Prime Minister?
Jen Mc 🏳️🌈🇦🇺That was a really interesting read. Thank you for sharing.
inertiaman@danwentzel they also defaulted on their own foreign debts when they nationalised Icesave therefore throwing swathes of taxpayers in more responsible countries right under the bus to the tune of billions, requiring their own governments to foot the bill.
What Iceland need to do is stick to subsistence farming and stay the hell out of international finance.
Ossie Rinning@danwentzel We had first hand experience of this. Very stressful at the time.
OldBrushNewPaper@danwentzel AS THEY SHOULD!!
(Sorry about the caps lock...)
GreenSkyOverMe (Monika)@danwentzel Image description:
This is Iceland (stick figure).
Iceland let its 3 biggest banks fail after the 2008 financial collapse
Iceland bailed out its citizens instead.
Iceland prosecuted those banksters that caused the meltdown.
Iceland had one of the
strongest economic recoveries ever.
Be like Iceland.
This is Iceland (stick figure).
Iceland let its 3 biggest banks fail after the 2008 financial collapse
Iceland bailed out its citizens instead.
Iceland prosecuted those banksters that caused the meltdown.
Iceland had one of the
strongest economic recoveries ever.
Be like Iceland.
I Voted for McGovern@danwentzel
* also, please stop slaughtering whales Iceland? Please?
* also, please stop slaughtering whales Iceland? Please?
John Oliver@danwentzel what he says…
Nafnlaus 🇮🇸 🇺🇦@danwentzel FYI, Icelanders wince at posts like this... it's a really skewed version of what happened and the actual outcome.
Áramótaskaupið 2014 - Túristar
The BEST Words@danwentzel But, in America, corporations are Super People.
gavinisdie 
@danwentzel my humor is broken, I giggled when I read "Iceland"
Andreas K@danwentzel But but, jailing our betters?
Are you insane?
GeekFurious@danwentzel This is about as accurate as that we all believe in elves. But people keep saying it so one day it will just become true.
@GeekFurious In which way do you disagree with the BBC on this?
Flaming June@danwentzel I remember that. Excellent.
Marius Fortuna_3@danwentzel Using public funds to prevent fraudulently or incompetently managed banks from failing and jailing the CEOs responsible for the fraud or incompetence are not mutually exclusive responses to situations like Bear Sterns and Silicon Valley Bank. Why do political leaders in Canada and US treat them like they are? If bailing out a bank is good for the country, so is sending the CEOs responsible for the mess to jail. #Iceland #SiliconValleyBank #usa #canada #banking
Agora@danwentzel, Americans would rather jail innocent black men for 400 years than jail wealthy executives whose risky and reckless actions lead to economic suffering or white leaders whose actions spark a violent insurrection.
ShiraDestProjectDoBetter@danwentzel I didn't know this. Thank you for sharing it.
Tim Ward ⭐🇪🇺🔶 #FBPE@danwentzel Wasn't their money, though, was it - an awful lot of the customers who lost money were foreigners.
Fussy Geek Wares@danwentzel That's wonderful, bailing out the people that were let down instead of the people that let them down. 🙌
Jon PENNYCOOK@danwentzel and that upset the British Government so much that they used laws about state #terrorism to punish #Iceland http://news.bbc.co.uk/1/hi/uk_politics/7688560.stm