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Thu Nov 29, 2012, 03:21 PM

"The Government Bailed out the The People and Imprisoned the Banksters"

found on fb


there's some good info here (reply #79) http://www.democraticunderground.com/10021902155#post79

thanks DaniDubois

94 replies, 20863 views

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Reply "The Government Bailed out the The People and Imprisoned the Banksters" (Original post)
trailmonkee Nov 2012 OP
midnight Nov 2012 #1
Larry Ogg Nov 2012 #33
Jackpine Radical Nov 2012 #2
CaliforniaPeggy Nov 2012 #3
Octafish Nov 2012 #23
CaliforniaPeggy Nov 2012 #25
dchill Nov 2012 #52
tk2kewl Nov 2012 #4
99Forever Nov 2012 #5
mikeysnot Nov 2012 #7
sabrina 1 Nov 2012 #21
99Forever Nov 2012 #30
sabrina 1 Nov 2012 #38
DeSwiss Nov 2012 #40
Wind Dancer Nov 2012 #41
sendero Nov 2012 #54
leftstreet Nov 2012 #61
hay rick Nov 2012 #78
tomp Nov 2012 #84
99Forever Nov 2012 #87
tomp Dec 2012 #92
99Forever Dec 2012 #93
Royal Sloan 09 Nov 2012 #6
iandhr Nov 2012 #8
trailmonkee Nov 2012 #10
whatchamacallit Nov 2012 #11
SammyWinstonJack Nov 2012 #39
gtar100 Nov 2012 #70
leftyohiolib Nov 2012 #12
Dragonfli Nov 2012 #14
jeff47 Nov 2012 #17
trailmonkee Nov 2012 #22
JackRiddler Nov 2012 #18
Dark n Stormy Knight Nov 2012 #69
tama Nov 2012 #91
Fuddnik Nov 2012 #19
ErikJ Nov 2012 #43
RoccoR5955 Nov 2012 #44
jtuck004 Nov 2012 #48
LeftInTX Nov 2012 #53
Javaman Nov 2012 #86
jsmirman Nov 2012 #9
sally5050 Nov 2012 #13
nineteen50 Nov 2012 #15
woo me with science Nov 2012 #16
Fuddnik Nov 2012 #20
Octafish Nov 2012 #24
woo me with science Nov 2012 #29
polly7 Nov 2012 #66
LongTomH Nov 2012 #26
Dakota Flint Nov 2012 #27
Egalitarian Thug Nov 2012 #28
TheUnspeakable Nov 2012 #31
agent46 Nov 2012 #32
kooljerk666 Nov 2012 #34
greyghost Nov 2012 #35
Uncle Joe Nov 2012 #36
libodem Nov 2012 #37
jtuck004 Nov 2012 #51
libodem Nov 2012 #64
AnotherMcIntosh Nov 2012 #42
lob1 Nov 2012 #45
ProudProgressiveNow Nov 2012 #46
limpyhobbler Nov 2012 #47
mountain grammy Nov 2012 #49
joeunderdog Nov 2012 #60
jtuck004 Nov 2012 #50
warrprayer Nov 2012 #55
spanone Nov 2012 #56
Maineman Nov 2012 #57
BobTheSubgenius Nov 2012 #58
jtuck004 Nov 2012 #81
DemocratsForProgress Nov 2012 #59
trailmonkee Nov 2012 #71
DemocratsForProgress Nov 2012 #73
hack89 Nov 2012 #62
Native Nov 2012 #89
ReRe Nov 2012 #63
Bozita Nov 2012 #65
greyghost Nov 2012 #67
L0oniX Nov 2012 #68
Hotler Nov 2012 #72
librarygurl Nov 2012 #74
hootinholler Nov 2012 #75
trailmonkee Nov 2012 #76
hrmjustin Nov 2012 #77
DaniDubois Nov 2012 #79
trailmonkee Nov 2012 #85
DaniDubois Dec 2012 #94
Oilwellian Nov 2012 #80
me b zola Nov 2012 #82
muriel_volestrangler Nov 2012 #83
WillyT Nov 2012 #88
felix_numinous Nov 2012 #90

Response to trailmonkee (Original post)

Thu Nov 29, 2012, 03:22 PM

1. This is what leadership looks like....

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Response to midnight (Reply #1)

Thu Nov 29, 2012, 04:23 PM

33. This is what conscience looks like...

It's something our pretend democracy bipartisan sock puppets intensely loathe.

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Response to trailmonkee (Original post)

Thu Nov 29, 2012, 03:26 PM

2. K.

R.

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Response to trailmonkee (Original post)

Thu Nov 29, 2012, 03:29 PM

3. It was tough to do, but they were smart.

My admiration for them knows no bounds!

K&R

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Response to CaliforniaPeggy (Reply #3)

Thu Nov 29, 2012, 04:02 PM

23. Not hard to do, my Friend. We have experienced investigators from S&L days...

William K. Black, for one.

What is missing is the political leadership needed to do so.

I'd argue that's missing, in large part, a result of allowing government employees charged with enforcing regulations joining the very industries as employees they once regulated upon completing government service.

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Response to Octafish (Reply #23)

Thu Nov 29, 2012, 04:05 PM

25. I know you're right...

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Response to Octafish (Reply #23)

Thu Nov 29, 2012, 06:05 PM

52. +1

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Response to trailmonkee (Original post)

Thu Nov 29, 2012, 03:29 PM

4. Big Effin K&R

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Response to trailmonkee (Original post)

Thu Nov 29, 2012, 03:29 PM

5. And neither the USA or Europe has learned a damn thing.

Thanks, brilliant leaders.

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Response to 99Forever (Reply #5)

Thu Nov 29, 2012, 03:32 PM

7. The learned alright!

How to loot and pillage and leave us the bill.

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Response to 99Forever (Reply #5)

Thu Nov 29, 2012, 03:58 PM

21. I don't think it was a question learning anything. Their goals were different.

Iceland's new leaders, after they people threw out the ones who facilitated the collapse of their country, put the people first and were not interested in protecting crooked Bankers.

The opposite happened in Europe and the US. The goal was to protect the crooked Bankers and the politicians who enabled them, and to do it by using the Working Class to bail them out.

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Response to sabrina 1 (Reply #21)

Thu Nov 29, 2012, 04:13 PM

30. I was giving our fearless leaders the ...

... benefit of the doubt that their actions have been done from ignorance instead of being deliberate crimes against us.

Could I be wrong? Have the sainted members of this administration been less than honest with us?




I am stunned i tell you. Stunned!

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Response to 99Forever (Reply #30)

Thu Nov 29, 2012, 04:50 PM

38. Lol, okay. The problem is the infiltration of the Dem Party by the Third Way.

That was very clever of them actually. They already had one party totally under the control of Wall Street, then they apparently sought out people who were willing to adjust their positions on a few issues known to be important to Liberals, three or four was all they needed to pass as Democrats. This way they were accepted into the 'Big Tent' which they use constantly to excuse their presence in our party.

Once inside, proudly wearing their 'D' buttons instead of an 'R', they began the process of putting forward all the Right Wing, Wall Street and MIC garbage and bingo it worked. Probably way better than even they had imagined.

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Response to sabrina 1 (Reply #38)

Thu Nov 29, 2012, 04:58 PM

40. +1000

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Response to sabrina 1 (Reply #38)

Thu Nov 29, 2012, 05:02 PM

41. You nailed it! n/t

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Response to sabrina 1 (Reply #38)

Thu Nov 29, 2012, 06:09 PM

54. Exactly..

... the "third way" is just plain old douchebag oligarchy rule.

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Response to sabrina 1 (Reply #38)

Thu Nov 29, 2012, 06:43 PM

61. +1

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Response to sabrina 1 (Reply #38)

Thu Nov 29, 2012, 11:38 PM

78. Exactly.

My post on Third Way: http://www.democraticunderground.com/10021845455

Thought for the day: make nice on gender issues and you can still coddle the rich.

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Response to 99Forever (Reply #30)

Fri Nov 30, 2012, 08:15 AM

84. it is fully suicidal to give the benefit of the doubt...

...to politicians or government.

absolute transparency (and i do mean absolute, as in NO secrets) and hourly accounting is what is needed. we probably need about 5% of the population whose sole job would be to monitor politicians and government constantly and report back on public media.

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Response to tomp (Reply #84)

Fri Nov 30, 2012, 09:20 AM

87. Hang on, friend...

... I'm the last person who "trusts" any of the rotten scoundrels. Guess I should have used that sarcasm thingie, eh?

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Response to 99Forever (Reply #87)

Sat Dec 1, 2012, 09:23 AM

92. i was agreeing with you. nt

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Response to tomp (Reply #92)

Sat Dec 1, 2012, 10:21 AM

93. Ahh..

... I see, my misunderstanding then..

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Response to trailmonkee (Original post)

Thu Nov 29, 2012, 03:31 PM

6. K&R Wait, What? They did that, O really

Good for them, it worked, so when do We start?

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Response to trailmonkee (Original post)

Thu Nov 29, 2012, 03:35 PM

8. Though I am in favor of jailing crooks

Its different when who have a population of 319,000 vs. 310,000,000

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Response to iandhr (Reply #8)

Thu Nov 29, 2012, 03:43 PM

10. I thought about that as well... but why does that matter?

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Response to iandhr (Reply #8)

Thu Nov 29, 2012, 03:45 PM

11. There's always a reason

to not do the right thing.

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Response to whatchamacallit (Reply #11)

Thu Nov 29, 2012, 04:52 PM

39. Yeppers.

Sickening. Isn't it?.

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Response to whatchamacallit (Reply #11)

Thu Nov 29, 2012, 09:23 PM

70. It's not so much an excuse as it is a logistical issue.

In Iceland, the territory and population is small enough that stuff that effects the "country" is more on par with something very localized in the US. It's easier for parts of the US to isolate themselves from the problems happening elsewhere in the US and end up being a drag on the desire for change. The red state / blue state shit we have to deal with I think has a lot to do with the size of our country and the remoteness between people who are equals in the decision-making processes in our Federal government. It's an additional burden we need to overcome when we need to make changes that effect the whole country.

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Response to iandhr (Reply #8)

Thu Nov 29, 2012, 03:46 PM

12. how does population size affect laws in this case

 

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Response to iandhr (Reply #8)

Thu Nov 29, 2012, 03:51 PM

14. Only if there were 310,000,000 Bankers, as it stands there are far fewer crooked bankers

than there are kids caught with a joint, if we have so little trouble jailing a far larger group for a non-offense, I think the jails have room for a few dozen con men that scammed trillions while destroying millions of lives, if they shoplifted they would be facing felony charges now so I just don't get why they are above the law over a far worse crime with so many victims.

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Response to iandhr (Reply #8)

Thu Nov 29, 2012, 03:54 PM

17. 1000x the population just means we have 1000x the bankers to jail.

Not all that hard, since we also have a lot more prisons. And lots more money to "bail out the people".

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Response to jeff47 (Reply #17)

Thu Nov 29, 2012, 03:58 PM

22. In Colorado we could fill the pot hole with them?

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Response to iandhr (Reply #8)

Thu Nov 29, 2012, 03:55 PM

18. The US imprisons half a million (at least) for marijuana.

Release them and you have 50 times the room you need for the mere 10,000 banksters and related corporate criminals who should have already been behind bars the last few years.

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Response to JackRiddler (Reply #18)

Thu Nov 29, 2012, 09:17 PM

69. + infinity!

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Response to JackRiddler (Reply #18)

Fri Nov 30, 2012, 08:42 PM

91. Prisons are so inhumane and costly

 

Just give them shovel, few seeds and empty island to live on with full economic freedom. Alcatraz?

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Response to iandhr (Reply #8)

Thu Nov 29, 2012, 03:56 PM

19. We have well over 10 times the prison space as Icelaand.

And besides, these crooked capitalists would just love going to a market-based privatized prison!

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Response to Fuddnik (Reply #19)

Thu Nov 29, 2012, 05:07 PM

43. Bingo-privatized prisons=free pass for their rich cronies.

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Response to iandhr (Reply #8)

Thu Nov 29, 2012, 05:07 PM

44. Nonsence!

It would only create more jobs. More crooked bankers in jail, more prisons need to be built (maybe not if we legalize certain things, and let those folks out). More prisons needing to be built means more jobs for builders, and when the building is done, for the jailers.

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Response to iandhr (Reply #8)

Thu Nov 29, 2012, 05:52 PM

48. No. It's different when the crooks have thoroughly infiltrated and purchased your government. n/t

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Response to jtuck004 (Reply #48)

Thu Nov 29, 2012, 06:05 PM

53. You're right. They're able to hide in plain site.

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Response to iandhr (Reply #8)

Fri Nov 30, 2012, 08:56 AM

86. Logic fail.

try again.

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Response to trailmonkee (Original post)

Thu Nov 29, 2012, 03:36 PM

9. I f'ing love what they did - and wish we would do the same/had done the same

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Response to trailmonkee (Original post)

Thu Nov 29, 2012, 03:50 PM

13. AND Iceland Forgave mortgage Debt above 110% of value of home

 

wow! Iceland still rocks in my world.

Does it matter that a lesbian is Premier? I think so.. lesbians make impressive leaders.

http://www.motherjones.com/slideshows/2010/06/female-heads-state-australia-gillard/sigurdardottir

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Response to trailmonkee (Original post)

Thu Nov 29, 2012, 03:52 PM

15. FDR

bailed out the people because he felt they would do a better job of investing the money than the bankers. Bush and Obama bailed out the banks because they felt the bankers would invest the money better. I guess the court is still out on which worked .

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Response to trailmonkee (Original post)

Thu Nov 29, 2012, 03:54 PM

16. K&R

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Response to trailmonkee (Original post)

Thu Nov 29, 2012, 03:57 PM

20. Kick and Rec!

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Response to trailmonkee (Original post)

Thu Nov 29, 2012, 04:05 PM

24. Gee. Who owns and operates both Europe and the USA?

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Response to Octafish (Reply #24)

Thu Nov 29, 2012, 04:11 PM

29. Thank you. nt

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Response to Octafish (Reply #24)

Thu Nov 29, 2012, 08:14 PM

66. +1000. nt.

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Response to trailmonkee (Original post)

Thu Nov 29, 2012, 04:05 PM

26. When I saw the title.....I knew you weren't talking about the US!

Sadly!

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Response to trailmonkee (Original post)

Thu Nov 29, 2012, 04:06 PM

27. As the cowardly lion said

"ain't it the truth....ain't it the truth."

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Response to trailmonkee (Original post)

Thu Nov 29, 2012, 04:08 PM

28. K&R. While we're still looking forward to some form of recovery that might get us

 

back to the shitty economy we had in 2007 in another 10 years, maybe, if we're really good and promise to eat our peas.

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Response to trailmonkee (Original post)

Thu Nov 29, 2012, 04:17 PM

31. HUGE K&R!!!!!!!!!

It's really not that hard to figure out-but we have to pretend that it is.

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Response to trailmonkee (Original post)

Thu Nov 29, 2012, 04:19 PM

32. Also

This is what a small homogeneous, educated population that places more value on democracy than propaganda-fueled tribalism looks like.

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Response to trailmonkee (Original post)

Thu Nov 29, 2012, 04:27 PM

34. I knew it was Iceland.............

 

Last I heard Economy was growing at 8%, best in the world.


Iceland wants to show other countries how to "rebalance" towards more power for The People.
In an interview with Olafur Grimmson, the President of Iceland, he makes it clear that the world is in the middle of a profound change in the way we are / will be governed / govern ourselves - all brought about by the ubiquity and low cost of modern communications technologies.

He says: "We are seeing a tectonic shift in the nature of our societies, transforming the balance between the market on one hand and democracy on the other. I have even concluded, which is a strange conclusion for me to make because I have spent most of my life within the traditional institutions of a democratic political system, that the democratic power of this movement that technology has enabled and brought about, is now so strong and so fast that the operations of the traditional institutions have almost become a sideshow."


http://realdirectdemocracynow.blogspot.com/2012/04/iceland-wants-to-show-other-countries.html

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Response to trailmonkee (Original post)

Thu Nov 29, 2012, 04:32 PM

35. Our MSM has done a "great job" covering this story. eom

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Response to trailmonkee (Original post)

Thu Nov 29, 2012, 04:35 PM

36. Kicked and recommended.

Thanks for the thread, trailmonkee.

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Response to trailmonkee (Original post)

Thu Nov 29, 2012, 04:45 PM

37. In what universe

Oh, I see, Iceland. Wonder how they rank for health care and education?

Bet they aren't ranked down in the 20's and 30's like we are, either? Human welfare is important.

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Response to libodem (Reply #37)

Thu Nov 29, 2012, 06:01 PM

51. They don't seem to be doing too badly, beat us in every category I have looked at so far...



Mostly public insurance. Users are given ample choice of providers but private supply
is limited and prices tightly regulated. Gate-keeping is virtually inexistent. Here.

More Here.

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Response to jtuck004 (Reply #51)

Thu Nov 29, 2012, 07:16 PM

64. It didnt just open it came as a download

I'll read it later. Thank you for the link.

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Response to trailmonkee (Original post)


Response to trailmonkee (Original post)

Thu Nov 29, 2012, 05:36 PM

45. K&R.

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Response to trailmonkee (Original post)

Thu Nov 29, 2012, 05:46 PM

46. K&R nt

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Response to trailmonkee (Original post)

Thu Nov 29, 2012, 05:51 PM

47. great thread, k+r

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Response to trailmonkee (Original post)

Thu Nov 29, 2012, 05:53 PM

49. The Iceland story is amazing. I considered it among my top ten

place to secede to if Rmoney became president.

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Response to mountain grammy (Reply #49)

Thu Nov 29, 2012, 06:36 PM

60. I booked a trip there for the Northern Lights...

But now I just might have to go and find out about their politics. I had no idea.

Last time I went, I thought it was other-worldly. Now I like it even better.

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Response to trailmonkee (Original post)

Thu Nov 29, 2012, 05:54 PM

50. K&R. They should be talking about this in 5th, 8th, and 10th grades. n/t

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Response to trailmonkee (Original post)

Thu Nov 29, 2012, 06:11 PM

55. just the opposite

of what we can expect to see in the coming months

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Response to trailmonkee (Original post)

Thu Nov 29, 2012, 06:13 PM

56. must be a nation where the capitalists don't own the government. neat concept.

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Response to trailmonkee (Original post)

Thu Nov 29, 2012, 06:24 PM

57. And now Geitner, the Republican Treasury Sec who bailed out banksters rather than people is

is Obama's fiscal cliff negiator!! We need to rise up and get Geitner the hell out of there!!

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Response to trailmonkee (Original post)

Thu Nov 29, 2012, 06:24 PM

58. A good portion of their recovery is due to reneging on debt and currency controls.

Both of these should have the effect of cooling investment in the country, and have already created 25% + inflation.

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Response to BobTheSubgenius (Reply #58)

Fri Nov 30, 2012, 02:47 AM

81. You say that like it's a bad thing. Imports cost way more, and their money is

worth less.

So they go to work and home every day, and their total debt decreases. They have government health care and decent wages, women fare better, they live 2 years longer. Since they started their crisis they are sending more people for higher education than they were before their cuts. And they can't import as much of cheap Walmart junk. Darn the luck.

And because their money doesn't buy as much on the export market, the return on investment to rebuild their jobs inside the country for the people makes good economic sense, and now they can figure out how to compete on a world stage.

And because the money is worth less the renteirs that were profiting from the profligacy got hammered, and are not as able to ply their filthy wares in providing overpriced mortgage-based assets to unsuspecting borrowers. Too damn bad.

And since they have a high measure of cooperation and egalitarianism, they can weather the deprivation that will occur. Which reminds me - in our way, we now have 47 million people on food stamps, and millions upon millions for whom there is no job. While people in junk bond firms call themselves private equity and pay themselves $245,000. A week. And collect part of the $40 billion we are paying out each month to make sure greedy bastards mortgage-based assets don't fall, while taking 700,000 people out of their homes from the 1.3ish million foreclosures this year.

Why is our way better?


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Response to trailmonkee (Original post)

Thu Nov 29, 2012, 06:29 PM

59. The president of Iceland would not use

an idiotic non-word like "banksters".

Otherwise, excellent graphic.

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Response to DemocratsForProgress (Reply #59)

Thu Nov 29, 2012, 09:36 PM

71. that's exactly what a Bankster would say



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Response to trailmonkee (Reply #71)

Thu Nov 29, 2012, 10:06 PM

73. good one

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Response to trailmonkee (Original post)

Thu Nov 29, 2012, 06:47 PM

62. They implemented severe austerity measures and raised taxes

so while a couple of bankers were arrested, the people did suffer.

What is also interesting is that they borrowed 4.6 billion dollars from the IMF - considering the US is the largest contributor to the IMF the Icelandic people benefited from US taxpayers money.

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Response to hack89 (Reply #62)

Fri Nov 30, 2012, 02:43 PM

89. very true - thanks for pointing this out so people can better understand the dynamics

60 minutes covered this, and there's a documentary floating around about this as well. Saw it, but can't remember the title. Very interesting. I remember way back when when DU had some of the first reports about the riots in the streets!

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Response to trailmonkee (Original post)

Thu Nov 29, 2012, 07:01 PM

63. K&R

I love FB, and I'm not even a member of it. Yet.

Thanks for this OP, trailmonkee. I urge everyone to sit still and explore all the links and avenues. A real teaching moment.

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Response to trailmonkee (Original post)

Thu Nov 29, 2012, 07:59 PM

65. K&R ... Bigtime!

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Response to trailmonkee (Original post)

Thu Nov 29, 2012, 08:21 PM

67. K & R !

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Response to trailmonkee (Original post)

Thu Nov 29, 2012, 08:25 PM

68. A country not run by the Wall Street crime syndicate.

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Response to trailmonkee (Original post)

Thu Nov 29, 2012, 09:42 PM

72. "Now is not the time to point fingers." President Obama... And

from Sixty Minutes "what Wall St. did might have been immoral but, they did nothing illegal." again the president. Nothing to see here. Move along please.

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Response to trailmonkee (Original post)

Thu Nov 29, 2012, 10:18 PM

74. Source for this quote?

Does anyone know of the source for this quote? I've searched all over the internet but haven't found one yet. Thanks in advance.

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Response to librarygurl (Reply #74)

Thu Nov 29, 2012, 10:52 PM

75. Hey wrong avatar

How's Chicago?

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Response to librarygurl (Reply #74)

Thu Nov 29, 2012, 11:24 PM

76. I am pretty sure it is paraphrased... I didn't make the graphic, so I wouldn't know

found it on fb.... think it gets to the point

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Response to librarygurl (Reply #74)

Thu Nov 29, 2012, 11:37 PM

77. Welcome to DU!

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Response to trailmonkee (Original post)

Fri Nov 30, 2012, 12:13 AM

79. Thanks for posting this. I'm glad to see this news making it's way to DU and being so well received.

 



Here's something else

Other countries, of course, haven't been so lucky. The crisis remains front page news in Greece, Italy and Spain ó countries that followed a very different response from Iceland's.

”lafur argues that his country's strength came from recognizing the problem was not just an "economic and financial challenge", but a "profound social, political, and even judicial" challenge.

After the crisis, the country held a full judicial investigation, and went against "the prevailing economic orthodoxies of the American, European and IMF model." ”lafur says that he likes to think that the IMF learned more from Iceland during this time than vice versa.

A key example of this approach is Iceland's refusal to pump money into failed banks. The decision was controversial at the time, but now looks increasingly wise. "I have never understood the argument ó why a private bank or financial fund is somehow better for the well being and future of the economy than the industrial sector, the IT sector, the creative sector, or the manufacturing sector".



And an excellent article about how they did it.

An Italian radio program's story about Icelandís on-going revolution is a stunning example of how little our media tells us about the rest of the world. Americans may remember that at the start of the 2008 financial crisis, Iceland literally went bankrupt. The reasons were mentioned only in passing, and since then, this little-known member of the European Union fell back into oblivion.


As one European country after another fails or risks failing, imperiling the Euro, with repercussions for the entire world, the last thing the powers that be want is for Iceland to become an example. Here's why:


Five years of a pure neo-liberal regime had made Iceland, (population 320 thousand, no army), one of the richest countries in the world. In 2003 all the countryís banks were privatized, and in an effort to attract foreign investors, they offered on-line banking whose minimal costs allowed them to offer relatively high rates of return. The accounts, called IceSave, attracted many English and Dutch small investors. But as investments grew, so did the banksí foreign debt. In 2003 Icelandís debt was equal to 200 times its GNP, but in 2007, it was 900 percent. The 2008 world financial crisis was the coup de grace. The three main Icelandic banks, Landbanki, Kapthing and Glitnir, went belly up and were nationalized, while the Kroner lost 85% of its value with respect to the Euro. At the end of the year Iceland declared bankruptcy.


Contrary to what could be expected, the crisis resulted in Icelanders recovering their sovereign rights, through a process of direct participatory democracy that eventually led to a new Constitution.

[link:http://sacsis.org.za/site/article/728.1|

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Response to DaniDubois (Reply #79)

Fri Nov 30, 2012, 08:20 AM

85. thank you!! I am linking to your post in the op... hope that's ok?

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Response to trailmonkee (Reply #85)

Wed Dec 5, 2012, 10:06 PM

94. Glad I could help. I wish this topic got better media coverage.

 

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Response to trailmonkee (Original post)

Fri Nov 30, 2012, 01:24 AM

80. Max Keiser was on Iceland...did some great reporting

He predicted their fall a year before it occurred.

I love the Icelandic people's response.

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Response to trailmonkee (Original post)

Fri Nov 30, 2012, 02:49 AM

82. K&R

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Response to trailmonkee (Original post)

Fri Nov 30, 2012, 06:41 AM

83. Can we construct the list of those jailed in Iceland?

I can find:

07 April 2011 Baldue Gudlaugsson, former permanent secretary at the Ministry of Finance, insider dealing - two years in prison - sold his shares in Landsbanki on the 17th and 18th September 2008, immediately before the bankís fall
http://www.icenews.is/2011/04/07/first-iceland-bank-crash-prison-sentence-handed-down/
http://www.icenews.is/2012/02/17/insider-dealing-civil-servant-loses-appeal/

15 June 2012 former chairman and the former CEO of the Icelandic Byr Savings Bank have each been sentenced to four-and-a-half years behind bars after being found guilty of fraud: "granting an ISK 800 million (EUR 4.9 million) loan to Exeter Holdings ehf, just as the Icelandic banking system was on the brink of collapse in 2008.

Exeter then used the loan to buy Gudjonsson and Jonssonís shares in Byr, before putting them up for sale as a collateral guarantee for the loan."
http://www.icenews.is/2012/06/15/former-icelandic-bank-execs-jailed-for-fraud/
Byr is Icelandís fourth largest operating bank in the retail and corporate sector. Before the financial crisis Old Byr had a total of 235 employees working in 214 full-time positions.
http://www.eftasurv.int/media/decisions/126-11-COL.pdf

Aron Karlsson was sentenced to 2 years in prison for defrauding Arion Bank in real estate dealings:
http://en.wikipedia.org/wiki/2008%E2%80%932012_Icelandic_financial_crisis#Convictions
http://translate.google.com/translate?sl=is&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&layout=2&eotf=1&u=http%3A%2F%2Fwww.visir.is%2Faron-karlsson-daemdur-i-tveggja-ara-fangelsi-%2Farticle%2F2012121118956

Any other jail sentences people can find? The ex-PM was guilty on one charge:

'Haarde was convicted of failing to take the initiative to insure "a comprehensive and professional analysis of the financial risk faced by the state because of the risk of financial crisis."'
but was cleared on others, received no punishment, and had his court costs paid
http://www.cbc.ca/news/business/story/2012/04/23/business-iceland-bank-collapse.html

And one year suspended sentences for 3 investors, for tax violations:
http://icelandpulse.com/icelandreview/6466-icelandic-tycoon-found-guilty-of-tax-violations

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Response to trailmonkee (Original post)

Fri Nov 30, 2012, 01:38 PM

88. + 1,000,000,000... K & R !!!


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Response to trailmonkee (Original post)

Fri Nov 30, 2012, 02:59 PM

90. This takes courage

-I wish this were actually possible in America. I wonder how dangerous it would be to attempt here.

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