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What if we hadn't bailed out any companies in 2008-2010?
https://gladerebooted.net/viewtopic.php?f=8&t=11386		 Page 1 of 1
Author:  Talya [ Wed Jun 10, 2015 11:33 am ]
Post subject:  What if we hadn't bailed out any companies in 2008-2010?
http://www.independent.co.uk/news/busin ... 09503.html

TL;DR version:

-Iceland chose to allow insolvent financials go bankrupt rather than bail them out.
-Iceland prosecuted CEOs and bankers that contributed to the collapse and imprisoned them.
-Iceland imposed a 39% tax on investors who took their funds out of Iceland during the financial crisis
-Iceland is now the first country in Europe to surpass its pre-crisis economic state.

Too big to fail my ***.
Author:  shuyung [ Wed Jun 10, 2015 1:10 pm ]
Post subject: 
Iceland has, like, 15 people, and they can all live happily on lutefisk. You can't draw comparisons.
Author:  Kaffis Mark V [ Wed Jun 10, 2015 1:58 pm ]
Post subject:  Re:
shuyung wrote:
Iceland has, like, 15 people, and they can all live happily on lutefisk. You can't draw comparisons.

Nobody is happy eating lutefisk. Your argument is invalid.
Author:  Diamondeye [ Wed Jun 10, 2015 2:35 pm ]
Post subject:  Re: Re:
Kaffis Mark V wrote:
shuyung wrote:
Iceland has, like, 15 people, and they can all live happily on lutefisk. You can't draw comparisons.

Nobody is happy eating lutefisk. Your argument is invalid.


Truth.

Also, Iceland has CCP. If they get into trouble, they can call on vast spacefleets to defend their interests.
Author:  Talya [ Wed Jun 10, 2015 3:22 pm ]
Post subject:  Re:
shuyung wrote:
Iceland has, like, 15 people, and they can all live happily on lutefisk. You can't draw comparisons.



323,000 and isolated geographically from the rest of the world makes them a pretty good miniature model for testing, I'd say.

Lutefisk is uncommon in Iceland. It's more of a Norwegian thing.
Author:  Diamondeye [ Wed Jun 10, 2015 3:59 pm ]
Post subject:  Re: What if we hadn't bailed out any companies in 2008-2010?
Lutefisk doesn't even bear thinking about.
Author:  shuyung [ Wed Jun 10, 2015 5:10 pm ]
Post subject:  Re: Re:
Talya wrote:
323,000 and isolated geographically from the rest of the world makes them a pretty good miniature model for testing, I'd say.

Lutefisk is uncommon in Iceland. It's more of a Norwegian thing.

No it doesn't. It might make them a decent approximation of Duluth, but that's about it.

Also, what do you think the ethnic background of Iceland is?
Author:  Corolinth [ Wed Jun 10, 2015 5:46 pm ]
Post subject: 
Upper Peninsula of Michigan

Duluth is a quarter the population of Iceland
Author:  shuyung [ Wed Jun 10, 2015 6:06 pm ]
Post subject: 
The Duluth MSA has a population of ~280,000. So 7/8ths.
Author:  Talya [ Wed Jun 10, 2015 6:52 pm ]
Post subject:  Re: What if we hadn't bailed out any companies in 2008-2010?
Except that Iceland is internally self-sufficient. I doubt Duluth is.
Author:  Diamondeye [ Wed Jun 10, 2015 6:54 pm ]
Post subject:  Re: What if we hadn't bailed out any companies in 2008-2010?
Talya wrote:
Except that Iceland is internally self-sufficient. I doubt Duluth is.


Only in regard to lutefisk.
Author:  Talya [ Thu Jun 11, 2015 11:19 am ]
Post subject: 
Lutefisk is not common in Iceland. By the sounds of things, it's more common in Duluth than in Iceland. :P
Author:  Aizle [ Thu Jun 11, 2015 11:25 am ]
Post subject:  Re:
Talya wrote:
Lutefisk is not common in Iceland. By the sounds of things, it's more common in Duluth than in Iceland. :P


It is far more common in Duluth than Iceland.

Also, something along these lines is exactly what should have been done everywhere else in the world. It likely would have only taken the first couple of banks in any one country to have created a massive shift in attitude from the banking industry.

"To Big To Fail" is a bullshit mantra from people who like the status quo and are part of the problem.
Author:  Diamondeye [ Thu Jun 11, 2015 12:15 pm ]
Post subject:  Re:
Talya wrote:
Lutefisk is not common in Iceland. By the sounds of things, it's more common in Duluth than in Iceland. :P


If the winter Texans that show up here are any indicator, this is definitely true. They scarf this crap down like it was birthday cake.
Author:  Vladimirr [ Fri Jun 12, 2015 11:17 am ]
Post subject:  Re: Re:
Kaffis Mark V wrote:
shuyung wrote:
Iceland has, like, 15 people, and they can all live happily on lutefisk. You can't draw comparisons.

Nobody is happy eating lutefisk.


CAN CONFIRM
Author:  Diamondeye [ Fri Jun 12, 2015 1:25 pm ]
Post subject:  Re: Re:
Vladimirr wrote:
Kaffis Mark V wrote:
shuyung wrote:
Iceland has, like, 15 people, and they can all live happily on lutefisk. You can't draw comparisons.

Nobody is happy eating lutefisk.


CAN CONFIRM


This guy knows what's up. :thumbs:
Author:  Kaffis Mark V [ Fri Jun 12, 2015 6:38 pm ]
Post subject: 
I'm lucky -- even though I grew up in a pretty strong Swedish community (via my church), none of us really went in for lutfisk or surstromming (or any of the weird pickled/fermented fish variations common in northern Europe)... I think that's mostly something that the Lutherans brought over.
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