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Current Events & Hot Topics Current Events & Hot Topics

They didn't bail out their banks and this is what happened!

Posted by on Mar. 7, 2013 at 12:02 PM
  • 10 Replies
https://www.upworthy.com/a-country-decided-not-to-bail-out-its-banks-and-this-is-what-happened?c=bl3

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by on Mar. 7, 2013 at 12:02 PM
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Replies (1-10):
MrsImperfect
by Bronze Member on Mar. 7, 2013 at 12:03 PM
Sorry the link is to a video only.
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brookiecookie87
by Platinum Member on Mar. 7, 2013 at 12:04 PM

Here you go:



For people who want a clicky:

http://youtu.be/51-Jfh6ADH0

MrsImperfect
by Bronze Member on Mar. 7, 2013 at 12:18 PM
^ thank you! Thought it was clicky....sorry about that.
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smalltowngal
by Platinum Member on Mar. 7, 2013 at 12:27 PM
Can't watch it. Is it about Iceland?
SuperChicken
by on Mar. 7, 2013 at 12:27 PM

Very interesting.  I don't know a lot about Iceland.

MrsImperfect
by Bronze Member on Mar. 7, 2013 at 12:57 PM
Yes.

Quoting smalltowngal:

Can't watch it. Is it about Iceland?
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Clairwil
by Ruby Member on Mar. 8, 2013 at 5:26 AM

Things are not quite that simple.

And Iceland didn't just let its banks default.   They insured the domestic investors got their money back, and shafted all the foreign investors.   There are long term consequences to this.

UpSheRises
by Platinum Member on Mar. 8, 2013 at 5:29 AM

It's not exactly the same. The scale of the problem, for example, is quite different. 3 inches of snow is much different than 3 feet of snow. 3 inches...you can just wait for that to melt. 3 feet...you've gotta move it.

littlelamb303
by Bronze Member on Mar. 8, 2013 at 5:35 AM
1 mom liked this

we should NOT have bailed out the banks.  This austerity measure that we are going through right now(sequester) is going to destroy us if something is not done.  Austerity in europe crippled their economy.

Jennygurl09
by on Mar. 8, 2013 at 6:17 AM



Quoting littlelamb303:

we should NOT have bailed out the banks.  This austerity measure that we are going through right now(sequester) is going to destroy us if something is not done.  Austerity in europe crippled their economy.

They are crippled because of a handful of unproductive countries actually, along with ridiculous social programs that are far too generous. 


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