Q: This is in regard to all the posts about the new "Bail-In" laws for Canadian Banks.
A little off track, but a very interesting story of how Iceland dealt with the 2008 financial crisis.
Do a search on Youtube for: "Iceland's President Ólafur Ragnar Grímsson Radio Interview". It's about 27 minutes long and starts off slow, but he eventually goes into heavy detail of what happened, what steps were taken, and the reaction of the West when he allowed the private banks to fail. He and the Citizens went through a very hard time, but were the first to come out of the crisis and lead the way in growth.
Paul
A little off track, but a very interesting story of how Iceland dealt with the 2008 financial crisis.
Do a search on Youtube for: "Iceland's President Ólafur Ragnar Grímsson Radio Interview". It's about 27 minutes long and starts off slow, but he eventually goes into heavy detail of what happened, what steps were taken, and the reaction of the West when he allowed the private banks to fail. He and the Citizens went through a very hard time, but were the first to come out of the crisis and lead the way in growth.
Paul