The power of III

Summum ius summa iniuria--More law, less justice

15 January 2011

Update on Iceland economic recovery -- doing it the right way

First, they apply generally Austrian school economic principles -- allow malinvestments to run their course naturally.  No bailouts.  V shaped rapid recovery.  Now they are going to administer justice to the bankers who manipulated the market that led to the crisis...

"Iceland, which alone in the entire developed world allowed its banking sector to collapse, and which, also alone, has benefited from a recovery that is truly organic courtesy of a devaluation of its currency and a global restructuring of its corporate balance sheet (read wipe outs for its banker class), continues to show the world that it is possible to have at least some semblance of justice in a world captured by fraud and criminal financial interests. After the CEO of failed bank Kaputhing was arrested back in May, today AFP reports that Iceland police has also detained the former CEO and several other executives of the other major Iceland failed bank: Landsbanki."

Article here

Think the bankers who manipulate(d) the market and the political system behind the scenes in the US have anything to worry about?  No.  

Dont worry about them.  

Application of the law in this country applies to mundanes only.

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