Iceland President: Let Banks Go Bankrupt

Iceland President: We Decided to Let the Banks Fail
Iceland President Olafur Ragnar Grimsson on the recovery of the country's economy

• Category

  News & Politics

[Maya Libretti]

Great interview, love Grimsson!! But did you notice how the interviewer "slipped" that little lie in about how 48% of Americans don't pay any taxes? The accurate figure is between 14-19%. And don't forget how the top corporations, like GE, ExxonMobil, and even Google pay 0% and also get refunds! (which on 0% is actually a subsidy). This is how lies and propaganda are slipped into our minds like poison. Otherwise, great commentary by the President of Iceland!

[alpinoterran]

holy churches shouldnt be treated like holy churches as well

[bill nye]

Basically Iceland is RATIONAL

[nub1991]

when USA is in financial crisis: Lets invade a country and steal their resources and claim its for freedom and democracy!

[nick frechen]

sounds like a far fetched dream in america!!

[Southparkateer2]

I want to move to Iceland. It's amazing how the Icelandic community got together against this bastards, and the government actually backed them up in that decision. A government that actually represents its people. Can you imagine that?

[Yiannis Ath]

a big bravo for the president of Iceland. I hope someday Greeks will understand that the so-called anorthodox way is the right way...

[austinkenneth]

I was never advocating for the inequality in America. I am 100% on your side. However, even if calculated as a percent (as it should be), 2.5 billion is not 0. There are plenty of facts to support a case of corruptness between large corporation and the government, so there is no need to make up numbers and figures. Reagan (republican) set forth a series of tax cuts dropping the top income tax rate from 70% to about 28%. $7.7 trillion for bail out / 314 million citizens > $20,000 for each person.