Muscatine

Bigbrother. In spite of the back and forth over what rush might be to me, you, and others, I like to listen to him because he does make me smile. I don't listen to his show when he's not there. My husband on the other hand, cannot stomach anything about him and gives me a hard time when I do. So I listen basically when the *boss isn't near by. But yes, I see how he can stir up many people in both liberal and conservative circles, in truth rush hasn't stood for true conservativism since the eighties. That might be up to debate but there it is. Besides, we are truly living in the most liberal of times since the teens. and regardless of his republican veiws, he will always rile the liberals. Hatred isn't any good, but voicing one's opinion fairly is. I don't recall who said it, but he/she was right, rush isn't a romney fan. He wasn't a mccaine fan either. That might have helped his bid in 08?

rush limbaugh

All this has happened and hundreds of millions of lives have been severely affected because of the claim that there was ‘no alternative’ to bailing out the banks that had caused the problem. But the people of Iceland have shown that this is nonsense. You would have heard a great deal about Iceland in 2008 when its banking system suffered a monumental and extraordinary collapse. It was, relative to the size of the Icelandic economy, the biggest banking crash in economic history.

You hear very little about Iceland today because of the way its population of 320,000 dealt with the enormous challenges they were suddenly facing. Don’t mention Iceland – Shhhhhh! There is nothing more dangerous to ‘no alternative’ than another alternative that works … the threat of a good example.

So Iceland? Schtum.

Today, just three years later, Iceland’s economy is recovering from the biggest comparative banking collapse in history because … they didn’t bail out the banks – they let them fail. Those who caused the problem took the consequences. This was the result of the Icelandic people refusing to take the hit for the mess the banks had created.

It was not the Icelandic people who chose to invest in the seriously dodgy foreign investor accounts promoted by Iceland’s private banks offering a better rate of return – it was the overseas investors. Why should those who didn’t own the banks repay the losses of private owners and investors in those banks? That was the stance of the Icelandic people and they were not budging.

Mobay,

I still wonder why nobody in the banks and the other financial managers were punished.   It seems the management suffered not at all. 

What I read, the Europeans did a much better job of keeping the blame where it belongs.

That's amazing to me as to how this is so quiet. Too big to fail it turns out mean too rich and powerful to ignored by uncle sam and our tax dollars. Sickening that this is the way it is here.