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Thor · 10-20-2009, 03:56 PM

lol Jedi, priceless.

Rerun Iceland was first to fall when wallstreet and the derivatives market fell apart. 3 banks were taken over by the government, 2 of the subsiquently were shut down and the other is now nationalized.

Basically a small number of investment bankers bought companies like crazy in EU while leveraging the small economy of Iceland against it. The bets were called in when the crash came and such a tiny country couldn't handle it, those 20 or more bankers are now all out of the country and many of them in hiding.

10-20-2009, 03:56 PM	#5
Thor God of Hating Twitter Join Date: Apr 2006 Exp:	lol Jedi, priceless. Rerun Iceland was first to fall when wallstreet and the derivatives market fell apart. 3 banks were taken over by the government, 2 of the subsiquently were shut down and the other is now nationalized. Basically a small number of investment bankers bought companies like crazy in EU while leveraging the small economy of Iceland against it. The bets were called in when the crash came and such a tiny country couldn't handle it, those 20 or more bankers are now all out of the country and many of them in hiding. __________________ Allskonar fyrir Aumingja!!