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Iceland making the F*CKING banks pay for mortgage modification

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Published on Apr 16, 2012

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The Stench of Truth (552).mp4
Despite the story circulating on the internet that said that Iceland was forgiving mortgage debt it is not quite like that. They are forgiving a great portion of underwater debt AND they are making banks refinance the debts at current value and in line with the ability to repay. The banks seem to have to eat this loss. AND this is under an IMF program, which amazes me. The IMF sucks and guts countries but in this case Iceland got at least one good thing out of it. What do we have in this shitbag country? Empty words of an empty suit. Mortgage modification if the bank feels like it. It's about time the banks start paying for the economic collapse they caused.

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