The bailout of the America’s big investment banks seven years ago has proven to be a controversial decision. At the time, the concept was sold to us as ‘we don’t have a choice’, but Iceland did, in fact, make some different choices — and the world did not end.
This article on the tactics used in Iceland to confront their financial crisis comes from VOX – a far-left media source that doesn’t even attempt to report unbiased content. So, the source notwithstanding, this is an interesting look at what happened on an alternative decision arc.
And it’s important to note — generally speaking, North Dakota banks weathered the financial crisis without accepting federal bailouts, so don’t lump your local banker into the rhetoric included in the article.