Remember…

A list of reminders to myself.

Remember… header image 2

Iceland is Boned

October 15th, 2008 · Comments

Normally I wouldn’t post something like this, but I thought it significant enough to deserve a place on this meaningless slice of the internet. The following is the better part (in no less than two senses) of an e-mail I just sent. Enjoy!

http://www.icenews.is/index.php/2008/10/13/richard-portes-analyses-the-shocking-errors-of-icelands-meltdown/

From the Financial Times
Re-posted on a financial blog
Summary:
-Iceland’s banks were mismanage
-Because of political decisions of the banks’ high-ups and Gordon Brown (PM of UK), the Krona is in the tank
-In an attempt to reassure investors (and citizens), Iceland turned to Russia, a scary prospect for anyone who fears Putin (read: everyone with a brain and without a KGB badge). This only made people more frightened.
-This may cause them to turn to the EU for help
-An interesting and beautiful culture and people are at serious risk of economic collapse

Tags: Transactions

 
close Reblog this comment
blog comments powered by Disqus