Actually, it does say quite a bit about the folks on this thread opining on the cause of the Icelandic government collapse, namely, that they have no clue what on earth they are talking about.
The happiest people in the world
- Thread starter evince
- Start date
Actually, it does say quite a bit about the folks on this thread opining on the cause of the Icelandic government collapse, namely, that they have no clue what on earth they are talking about.
I can keep repeating that two plus two is five, but it wouldn't make it true. Do you have some salient point to add?
Cancel 2016.2
The Almighty
Leave him alone, he is quite upset to find out the banks were state owned... it will take him a while to come up with some spin for that....
I love it when you post stuff like the above without even a hint of irony. It's hilarious.
Junior, the banks weren't state owned. Not. State. Owned. I mean, common sense would dictate that a bank that was state-owned would not need to be nationalized since the state would already own the bank, but common sense is lost on you.
evince
Truthmatters
I dont recall anyone on here calling for the Banks being governement owned and then deregulated so the the system was a tool of the state?
Weak ad hominems are so far all you have. Ad hominems as an aside in an argument can be fun, but when it is your whole argument it only shows an inability to speak on the actual subject.
However, I do recall somebody here mentioning the socialistic tendencies helped to bankrupt that government, then we find that they were running the banks that are blamed for it, from a link provided by somebody named, "evince"...
Hmmm....
The happiest people on earth are unhappy because they outspent their own value. I hope we don't follow in their footsteps.
You are correct on one thing, the government did indeed bankrupt itself with bad policy. You're just wrong on what the bad policy was. The bad policy was failing to properly regulate its banking industry.
evince
Truthmatters
http://business.timesonline.co.uk/t...ectors/banking_and_finance/article4883097.ece
They were recently purchased by the Gov.. They were privately held in the lead up to the crash.
The government wasn't running the banks.
I hope this helps.
By the way, saying that someone hasn't a clue what they are talking about when that person hasn't a clue what they are talking about isn't an ad hominem attack. It's just the truth of the matter.
You really don't read do you?
Desh's link provided this tidbit of information:
All of the major banks were publicly listed on Kauphöll Íslands (the Iceland Stock Exchange), though each was either wholly state-owned or merged with previously state-owned banks in the past.
But repeating it when evidence is quite contrary with nothing else to add is an ad hominem.
Again, the happiest people on the planet outspent their worth by multiples and are not happy. We do have something to learn from them, it is how "not" to do something.
Cancel 2016.2
The Almighty
I stand corrected. I need to follow my own advice and comprehend what I read. Desh's quote stated they were wholly owned by the state... in the past. Your fault.
evince
Truthmatters
THEY WERE NOT STATE OWNED
THE biggest bank in Iceland, Kaupthing, last night mounted a strong defence of its financial position in the face of heightened fears over its future.
The institution, which counts some of Britain’s best known entrepreneurs among its clients, including property tycoon Robert Tchenguiz and the Candy brothers, the developers of luxury homes, has been seen as a potential high-profile victim in the economic crisis engulfing Iceland.
Last Monday, the government in Reykjavik rescued the country’s third-largest bank, Glitnir, by acquiring a 70% stake. It has denied that it may have to rescue Kaupthing as well, although it is working on a wider bailout plan for the Icelandic economy.
They were bought out after the fact guys.
When in the past?
You're finally getting closer to the bad policies that led to the collapse. Congrats! I'm so proud of you.
Yah, sometimes I jump the gun.
It was too "perfect" that they were state owned too. LOL. It doesn't really change the point on why I brought this back up.
Basically, even the "happiest people in the world" were oblivious to the damage they caused to their own futures. We do have something to learn from them, but not positively.
The way I read this thread is that there was a merger between private banks and government banks leading up to the collapse. Damo and SF argue it was the government side that caused the problems and Dung and Desh argue that it was the private side that caused the problems.
My, my, my.......imagine that. Two sides who don't agree.
My, my, my.......imagine that. Two sides who don't agree.
Cancel 2016.2
The Almighty
ok... Damo... its still Dungs fault