Icelandís Economy now growing faster than the U.S. and EU
Icelandís Economy now growing faster than the U.S. and EU after arresting corrupt bankers
Iceland didnít 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?
"For all the fearmongering we hear out of our politicians on the right about how heaven forbid we're going to turn into Greece, the one country you never hear them talk about any more is Iceland. The reason they don't is, as Cenk Uygur explained on his show this Tuesday, they took a different path than the United States after their financial crisis and nationalized the banks, threw some the people responsible for the crash in jail and bailed out the homeowners instead of worrying about only bailing out the banks. And now they're coming back and their economy is growing again...".*
I thought all US banks were required to pay back the money they borrowed during the bailouts
looks like they found a loop hole
im not sure.. but on the foreclosure payouts...
hahah yeah out the 27 billion?
each home owner got about 2000$s each..
the rest of teh tax payer cash went back to the banks..
check these articles out..
Monday, November 28, 2011
Quelle Surprise! Banks Lied About Bailout Funds and Got $13 Billion in Profit from Them
Bloomberg News is continuing with the thankless task of pushing forward with FOIA requests relative to the Fedís lending programs, and once it eventually gets its troves of documents, having to slog through them to see what they reveal.
Bloomberg has a long article up on its site about its latest findings. And the bottom line is everybody close to the process lied like crazy. For instance:
Read more at http://www.nakedcapitalism.com/2011/...iqyS4DFbzW2.99
Is QE3 Yet Another Stealth Bank Bailout?
Itís difficult to puzzle out what Bernanke thinks he is accomplishing with QE3. The level of bond buying, as various commentators have pointed out, is much lower than in the earlier QE programs. And pulling out bigger guns in the past was not terribly productive. As we wrote in April 2011 in a post titled ďMirabile Dictu! Economists Agree All the Fed Has Done is Goose Financial Markets!ď:
Read more at http://www.nakedcapitalism.com/2012/...1EFQoI7mIQe.99
QE is just helping the bankers/elite consolidate more, buy up anything of any value, while none of the cash that is pumped into the system filters down.. hence inflation will go higher,, due to the massive amounts of fiat currency being pumped into the system,, the doller/pound/euro will always depreciate.,, the more money thrown in at the top the harder for the normal folks..
while looking for something that i cant find.. i came across this
U.S. Gave Tens of Billions to Libor-Manipulating Banks ... Even AFTER Learning about the Manipulation
ok fuck all that shit i posted..lol
this is what i was looking for..
$26 billion dollar settlement reached between 49 states, government authorities, and the 5 biggest banks. But this $26 billion won't go too far in helping the millions of Americans that need it. But what is $26 billion to the banks? Is this even a punishment? Richard Eskow, senior fellow with Campaign For America's Future.
Tuesday, November 1, 2011
Matt Stoller: Why a Foreclosure Fraud Settlement is a RIDICULOUS Idea
By Matt Stoller, the former Senior Policy Advisor to Rep. Alan Grayson and a fellow at the Roosevelt Institute. You can reach him at stoller (at) gmail.com or follow him on Twitter at @matthewstoller.
Gretchen Morgenson is ringing alarm bells that a 50 state settlement on the foreclosure fraud issue is on deck, and is spelling out some of the details. There would be some principal write-downs, random cash payouts for those who were foreclosed, and money to buy off nonprofits in the states that work on housing issues (a classic Fannie/Freddie Dem friendly tactic Morgenson and Rosner exposed nicely in their book Reckless Endangerment). The settlement looks vague and stupid, and will probably be executed with the care and competence of HAMP. But letís put that aside.
Read more at http://www.nakedcapitalism.com/2011/...zp8VEcQhAAo.99
^^ lol at state govt using forclosure payouts to balance their own budgets.. lolol
Thursday, February 24, 2011
Mortgage Fraud Whitewash: $20 Billion ďGet Out of Jail FreeĒ Settlement Floated
American leadership is reliable in one respect: it consistently undershoots my already low expectations.
Or maybe I have it backwards because I keep forgetting who the authorities are really serving, and it clearly isnít you and me. As we will discuss below, the latest scam is that the banking regulators are finalizing a mortgage ďbreakdownĒ settlement, and theyíve evidently decided to let the industry off the hook for a mere $20 billion.
Read more at http://www.nakedcapitalism.com/2011/...CRgJxx03tDt.99
effective regulation is good
but it s easier for a small economy to post high rates of GDP than that of more advanced countries
although iceland is quite advances as it is so that kinda invalidates my argument
also for a country like US/UK that is so heavily reliant on financial services, effective regulation would mean job losses in these sectors (as has happened)
thus it adds another dimension and pain to the economy
but ultimately its necessary.
yall can credit Reagan and Thatcher for setting off this shit 40 years ago
yep Keynesian economics is flawed., you cant run capitalism with no capital!!
the system is run on fraud, from bottom to top, or top to bottom..
make free money, charge interest on it..
hence why none of the debt in the world will ever go away,, not enough paper cash on the planet to even cover half of the debt..
which is why austerity/QE is a fallacy.
as they print more money (but the interest of the printed money is never accounted for)
iceland learnt, print your own cash. money that belongs and is owned by the people..
^i think your confusing keynesianism with neoliberalism ?
neoliberalism is minimal regulation and state intervention
keynesianism is better provided governments adhere to its original principle of spend when in recession cut back when times are good-which the UK didnt do.
neoliberalism is pure evil
bigger govt, more centralised,, trickle down economics. thats the Keynesian way...
what's the alternative? Neoliberalism is also trickle down economics except its worse and more instable.
at least the keynesian era had some form of state regulation until thatcher and reagan fucked it up
only one system makes any sence to me now..
for the people by the people.. fucking hate collins/oxford dictionary meaning of the word, basically to them it means lawless..
but thats cos the current faggot ass laws would be re written, made just and fair, where we would all be the same
^i think the closest example of what you mean is Scandinavian countries, like Norway, Sweden,Denmark and Finland.
Low levels of income inequality (unlike uS/UK)
the only other form i like is TAOISM, but i dont know if that could be a system for society to live by :s
if you want optimal form of government look at germany
low levels of public debt, decent welfare, good regulation, corp's, government and unions all consult on economic/development issues as well as providing excellent skills training
on top of that the Green Party is fairly powerful and so the nation has better green credentials that most
basically its reconciled the role between the market and the state
what do u mean by "but the interest of the printed money is never accounted for"
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