Comments on: More on the delicate subject of Iceslave http://icelandweatherreport.com/2009/06/more-on-the-delicate-subject-of-iceslave.html Thu, 17 May 2012 15:30:33 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: MichaelL http://icelandweatherreport.com/2009/06/more-on-the-delicate-subject-of-iceslave.html/comment-page-1#comment-8488 MichaelL Tue, 21 Jul 2009 08:45:42 +0000 http://icelandweatherreport.com/?p=2312#comment-8488 Read this with interest. What we have in the UK is a disgusting government. Years ago an investment bank called 'Barings' went bust. The late governor of the Bank of England did a wonderful thing: he let it go bust. Cost to taxpayer: nil. Now remember 'Long term capital management' that was a US hedge fund that the FED bailed out. Big mistake - capitalism works by recycling assets. The seeds of the credit crunch were sowed in that bailout. Here in the UK we have a laughable dependence on house prices: so taxpayers, savers and pensioners are now paying for those that borrowed too much. I work for and investment bank myself - not one that required state funding - what Brown did was to the discredit of an entire nation. True deposits up to a level should be protected but failed banks should fail - losses should not be socialised. Read this with interest. What we have in the UK is
a disgusting government. Years ago an investment
bank called ‘Barings’ went bust. The late governor
of the Bank of England did a wonderful thing: he let
it go bust. Cost to taxpayer: nil.
Now remember ‘Long term capital management’
that was a US hedge fund that the FED bailed out.
Big mistake – capitalism works by recycling assets.
The seeds of the credit crunch were sowed in that bailout.
Here in the UK we have a laughable dependence
on house prices: so taxpayers, savers and pensioners
are now paying for those that borrowed too much.
I work for and investment bank myself – not one
that required state funding – what Brown did was
to the discredit of an entire nation. True deposits
up to a level should be protected but failed banks
should fail – losses should not be socialised.

]]> By: colin buchanan http://icelandweatherreport.com/2009/06/more-on-the-delicate-subject-of-iceslave.html/comment-page-1#comment-8280 colin buchanan Tue, 30 Jun 2009 22:32:15 +0000 http://icelandweatherreport.com/?p=2312#comment-8280 Great article , Alda!! Great article , Alda!!

]]> By: JoeInVegas http://icelandweatherreport.com/2009/06/more-on-the-delicate-subject-of-iceslave.html/comment-page-1#comment-8277 JoeInVegas Tue, 30 Jun 2009 21:40:29 +0000 http://icelandweatherreport.com/?p=2312#comment-8277 So then, no one in the Iceland bank schemes has been arrested, or had assets confiscated? Does it look like it will ever happen? And yes, those agreements are only made for times like this, in easier times they are just promises and not called upon. So then, no one in the Iceland bank schemes has been arrested, or had assets confiscated? Does it look like it will ever happen?
And yes, those agreements are only made for times like this, in easier times they are just promises and not called upon.

]]> By: alda http://icelandweatherreport.com/2009/06/more-on-the-delicate-subject-of-iceslave.html/comment-page-1#comment-8274 alda Tue, 30 Jun 2009 10:05:47 +0000 http://icelandweatherreport.com/?p=2312#comment-8274 D'OH!! Sorry about that. That will teach me to write comments five minutes before bedtime when my eyelids are drooping. Lee it is!! D’OH!!

Sorry about that. That will teach me to write comments five minutes before bedtime when my eyelids are drooping.

Lee it is!!

]]> By: Bromley86 http://icelandweatherreport.com/2009/06/more-on-the-delicate-subject-of-iceslave.html/comment-page-1#comment-8273 Bromley86 Tue, 30 Jun 2009 08:14:49 +0000 http://icelandweatherreport.com/?p=2312#comment-8273 Just in case you were crediting me, Lee is the funny one :) . Just in case you were crediting me, Lee is the funny one :) .

]]> By: alda http://icelandweatherreport.com/2009/06/more-on-the-delicate-subject-of-iceslave.html/comment-page-1#comment-8270 alda Tue, 30 Jun 2009 00:10:24 +0000 http://icelandweatherreport.com/?p=2312#comment-8270 Thanks for the feedback and discussion, everyone. Bromley86 - This totally cracked me up: <i>If Bernie Madoff had been an Icelander in Reykjavik, he’d probably now be holidaying on a yacht in the Mediterranean and wondering whether to apply factor 8 or 12 suntan lotion this afternoon.</i> :D Thanks for the feedback and discussion, everyone.

Bromley86 – This totally cracked me up: If Bernie Madoff had been an Icelander in Reykjavik, he’d probably now be holidaying on a yacht in the Mediterranean and wondering whether to apply factor 8 or 12 suntan lotion this afternoon. :D

]]> By: Lee http://icelandweatherreport.com/2009/06/more-on-the-delicate-subject-of-iceslave.html/comment-page-1#comment-8268 Lee Mon, 29 Jun 2009 21:03:41 +0000 http://icelandweatherreport.com/?p=2312#comment-8268 > Is Iran too powerful and too hot for Mr Brown to handle A nuclear Iran may well be too hot for anyone to handle! The UK usually has few qualms about entering spats with Iran, but Brown is currently under huge pressure from Obama's administration to not inflame the current situation in order to not derail the subsequent nuclear negotiations. However, if Iransave were to go bankrupt... ;-) > Is Iran too powerful and too hot for Mr Brown to handle

A nuclear Iran may well be too hot for anyone to handle! The UK usually has few qualms about entering spats with Iran, but Brown is currently under huge pressure from Obama’s administration to not inflame the current situation in order to not derail the subsequent nuclear negotiations. However, if Iransave were to go bankrupt… ;-)

]]> By: Bromley86 http://icelandweatherreport.com/2009/06/more-on-the-delicate-subject-of-iceslave.html/comment-page-1#comment-8266 Bromley86 Mon, 29 Jun 2009 18:44:57 +0000 http://icelandweatherreport.com/?p=2312#comment-8266 Don't be a fool Jonas. Once you get past the self-pitying spin, you'll notice that the Act allows the freezing of assets in non-terror cases. Likewise what Iran is doing doesn't fall under the ATCSA. And they're not British diplomats, they're Iranian nationals. Meanwhile, back on planet Justsaynototrolls, Madoff got his :) . http://news.bbc.co.uk/1/hi/business/8124838.stm Don’t be a fool Jonas. Once you get past the self-pitying spin, you’ll notice that the Act allows the freezing of assets in non-terror cases.

Likewise what Iran is doing doesn’t fall under the ATCSA. And they’re not British diplomats, they’re Iranian nationals.

Meanwhile, back on planet Justsaynototrolls, Madoff got his :) .
http://news.bbc.co.uk/1/hi/business/8124838.stm

]]> By: Jónas Thor http://icelandweatherreport.com/2009/06/more-on-the-delicate-subject-of-iceslave.html/comment-page-1#comment-8265 Jónas Thor Mon, 29 Jun 2009 15:26:44 +0000 http://icelandweatherreport.com/?p=2312#comment-8265 A very good summary again. I am very concerned that Mr. Brown has not implemented the so call Terrorist Act on Iran after the incarceration of British deplomants. Is Iran too powerful and too hot for Mr Brown to handle. It was very easy for him to throw Iceland around as there was never any fear of retaliation. A very good summary again. I am very concerned that Mr. Brown has not implemented the so call Terrorist Act on Iran after the incarceration of British deplomants. Is Iran too powerful and too hot for Mr Brown to handle. It was very easy for him to throw Iceland around as there was never any fear of retaliation.

]]> By: Ljósmynd DE http://icelandweatherreport.com/2009/06/more-on-the-delicate-subject-of-iceslave.html/comment-page-1#comment-8263 Ljósmynd DE Mon, 29 Jun 2009 12:56:40 +0000 http://icelandweatherreport.com/?p=2312#comment-8263 The following article on BBC refers to an interview with Tryggvi Þór Herbertsson about the issues mentioned: http://news.bbc.co.uk/2/hi/programmes/moneybox/7652519.stm I think, finger-pointing at those moguls, who ran Iceland to ground, is not enough. I would consider it essential for Iceland's external credibility to have them hunted down - like the Americans do with Madoff. Without bringing the alleged culprits to court, the relevance of saying "it wasn't us, who indebted the country" is restricted to purely domestic purposes. It might be fine for the Icelandic politicians to have the billionaires as scapegoats at hand, without further venturing into the role of the politicians themselves, who made the laws. Which is possibly the reason, why they are not too eager to press hard. But this is not in the interest of the Icelandic people. The following article on BBC refers to an interview with Tryggvi Þór Herbertsson about the issues mentioned:

http://news.bbc.co.uk/2/hi/programmes/moneybox/7652519.stm

I think, finger-pointing at those moguls, who ran Iceland to ground, is not enough. I would consider it essential for Iceland’s external credibility to have them hunted down – like the Americans do with Madoff. Without bringing the alleged culprits to court, the relevance of saying “it wasn’t us, who indebted the country” is restricted to purely domestic purposes.

It might be fine for the Icelandic politicians to have the billionaires as scapegoats at hand, without further venturing into the role of the politicians themselves, who made the laws. Which is possibly the reason, why they are not too eager to press hard. But this is not in the interest of the Icelandic people.

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