Iceland's Debt May Be Cut to Junk

[PhantomAct]

Don't Iceland realise that we'll be calling them thieves? Just like Lehman Bro when they stole £4bn from their UK branch 2-days before the US HQ declared itself bankrupt.

[Kjalli]

If the limeys want their money back they dont have to go far, allmost all the Icelandic bankers live in London and have the money invested in UK accounts. Limeys are along with the Swiss the biggest hippocrits in the world, most of "loot" from banking scandals all over the world are hidden in UK tax havens or in Swiss.

[peope1976]

Yeah. And they are living it large in London. At least some of the handful of people the screwed the rest of the world.

[silverfuturist]

Moody's is a little toady for Wall Street.

[bigtwo1952]

F*ck that punk from Moody`s....condesending piece of sh*t

[iknownothingnow]

Wow! GB would put up a financial blockade! They would not allow the IMF to help. Had not heard that before.

Why should the Iceland citizens pay for a failure of the bank? Oops.  Guess Americans did the same thing.

[ytgv3fc7]

the bank robbers (who are banks robbing people) think they can do it a second time, as the first time went over so well. Just like if a child has a tantrum and you give in by giving the candy instead of spanking them. Those banksters need a thorough spanking.

[iknownothingnow]

I like that "bank robbers"! The real bank robbers that stole trillions of dollars.

Now that they have even more money, looks like they will get away with it - again.

[fal2grace]

i hope they don't get away with it.

[iknownothingnow]

Agreed. None of us want it. But who can stop it? Certianly none of the politicians will do anything.

Just a sad state that we are in.

[curiouschem]

just in case i don't have tv?

[fal2grace]

::) this gives us a place to discuss stories that seem to be important... and I don't get Bloomberg on my tv.

[curiouschem]

You don't get Bloomberg, so you re-broadcast it here for others?

If you had somekind of commentary with it I could so, but just putting out their mindless junk is just more corporatism. in my opinion. but, hey it's your channel. I was just trying to figure out what your point was with the video.

[ytgv3fc7]

their channel doesn't allow commentary and our commentary allows us to link in more related news articles and for that matter, months later, to reference back to them and show who lied about what. Finding the Liars in Global Corporate Banking is a very healthy exercise so we know in the future who to write off immediately as a fraudster. Thanks to this, I know Moody's belongs on this list.

[fal2grace]

we're just a group of people interested in the economy and trying to figure out what's going on... so we pick stories that seem important and discuss... that's all.

[bozeman14]

what a couple of condescending bastards. the icelandic people throwing a temper tantrum. i think not.

[CTOL1]

They may be "small" but we hear them around the world

[fal2grace]

we sure do..thanks

[ytgv3fc7]

Moody's is part of the inside team that gave AAA credit to all the junk sub-prime mortage bonds, assisting the fraud.

So now if Iceland's people refuse to be blackmailed, extorted, robbed, they'll carry out the threat Paulson gave - give us all the preciouses or we suffocate your nation's economy.

Don't ever give in to terrorist demands

[fal2grace]

good point. thanks

[UU361]

Big deal, they need to just tell these clowns we ain't going to pay it.

[cammoguy2]

What a couple of dorks. I fart in their general direction.

[fal2grace]

I love monty python:)

[peope1976]

In a world where money is power the corporations and its founders win every time.

[agfigueroaa]

It is very common that all these people who studied economics in the US and UK see only profits in terms of debts and the stock market. These seldom refer to production. They only use euphemisms to refer to cut jobs, debts and bail outs.

Frequently, we see these class of guys on TV promoting worthless assests.

[justaoldslave]

Thanks Deb, I am glad I get reminded to listen to smart people and do as I am told. I must work harder and for less money. I must work my self to death so that my owners get richer. I must repay my masters the money that they told me I owe them!

[skybirdbird]

i'll take cod over the us dollar.........:-)

[fal2grace]

yep, at least you can eat it:)

[AgrippasNotebook3336]

Ok, this pisses me off. To compare them to children who are having a temper tantrum is beyond ridiculous. They had just said it was the banks who took on the debt, so why should the people be forced to pay the price of the bankers' greed?

And newsflash: all debt issued in currencies using the Euro, pound or dollar are junk -so let's not kid ourselves otherwise Bloomberg.

[fal2grace]

I didn't like the "children" analogy either.

[AgrippasNotebook3336]

Maybe they use that language to condition us in the future, when we're in the same boat. We must not be childish and complain about them raping us after all.

[Raycheetah]

@AgrippasNotebook3336

It's the same kind of rhetoric as is directed at Americans who protest our government for its egregious corruption and fiscal irresponsibility. If you object to being trodden underfoot, you're "childish." You ought just to take your lumps "like a man." =>[,]>=

[fal2grace]

good point

[AgrippasNotebook3336]

Too right you are Ray. If you aren't one of the moneyed elite then you are supposed to grin and take it like a good slave. -All whilst the wealthy and powerful make out like bandits and laugh at us.

[Repomex01]

because the bankers own the politicians,, and the politicians control the police state aka a foot in your ass or bullet to your head.

[fal2grace]

yep

[AgrippasNotebook3336]

Right on Repomex01, but I'd go a step further in saying that not only do the bankers own the politicians but the corporations do too. Actually, the politicians remind me of cheap prostitutes. Anyone with some cash can get something done.

[justjacqueline2004]

Credit ratings a just part of the lie that is modern finance-a significant part though!

Perhaps Mr Bjorgolfur Thor Bjorgolfsson could squeeze some of his billions of Euros towards Iceland.But of course the luxury of Mayfair London or some of the sunny money hiding centres are just too attreactive.Fortunately,all these centres are now big friends of the IRS and the British Tax authoritiies,so no hidey-holes then-just in case!

[fal2grace]

true that

[KhmerD0g]

iceland may be cut to junk? iceland should already rated junk. so are the PIIGS, USA, UK. and eastern european countries.

[fal2grace]

i guess in truth they're all junk

[KhmerD0g]

the developed nations are taking in too much debts, obligations and entitlement programs. there is no way to pay them. their labor wage is too high compare to china and other developing nations.

emergence nations like brazil, china, singapore, india, south africa, indonesia, vietnam are in good standing. nations with natural resources are doing fine too like australia, russia, canada, saudi arabia and other middle east countries with oil.

even though china is in a bubble but they have no debt.

[ytgv3fc7]

Iceland doesn't belong in the list with the others. The others are printing money, enacting fraud and running deficits as the trigger. Iceland is not doing this. They are merely another nation hit by a recession with banks trying to rob all the nation's children as well as working adults.

[KhmerD0g]

yes, iceland government might not print money out of thin air, running deficits or committing fraud but they should not have let the private banksters and other financial institutions speculating, betting, borrowing, scamming, and pumping the economic bubble that is 12 times the nation GDP.

still, iceland will be rated junk just like the other nations.

[ytgv3fc7]

"but they should not have let the private banksters and other financial institutions speculating, betting, borrowing,"

No one should but many nations did and plans to CONTINUE doing so. The purpose of bailouts isn't to stop it, it's to PERPETUATE the wrong-headed behaviour.

"still, iceland will be rated junk just like the other nations."

Actually the extortion is that all co-operating nations will get better (fraudulent) ratings, no junk status.

[ewffaces7]

Stop talking about the IMF, you Bloomberg guys !

Are you working for David Rockefeller or what ??

[fal2grace]

:) nice