Economy

mrdmk

(2,943 posts)

2. Bad decisions and fraud and continued bad decisions and more fraud

Mon Dec 12, 2011, 03:56 PM

Dec 2011

Nothing more, nothing less!

Iceland became a paradox for the financial community. On the hand, Iceland had the least regulations of any European country. On the other hand, they were the first to go down hard. Then Iceland told the world here is what happens when there is a problem of this magnitude:

1) Fire and investigate Government and Business Leaders suspected in less-than-honest conduct.

2) Tell the World Financial Concerns to go Stuff-It!

The majority (out of a total of 17), Germany and others are not having major problems at this time. Just a few stingers from a contraction in the world economy. Others (about 5 of them are in trouble), cannot pay their debt on time, thus in trouble, per-say!

Just being honest in a nutshell...

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OK... non Econ major here.... [View all] Bigmack Dec 2011 OP

Read "Boomerang" by Michael Lewis. SheilaT Dec 2011 #1

Bad decisions and fraud and continued bad decisions and more fraud mrdmk Dec 2011 #2

I posted this the other day, found it a good overview. dixiegrrrrl Dec 2011 #3

Thanks... found this after I posted. Working at reading it now. nt Bigmack Dec 2011 #8

ABC Radio National in Australia had a great radio show on this CatholicEdHead Dec 2011 #4

There is a difference between the Eurozone and European Union mrdmk Dec 2011 #5

Someone just posted a GREAT article about this in SMW..let me go find it! PassingFair Dec 2011 #6

Yep. Ghost Dog Dec 2011 #9

This, the one below re: trade surplus EU countries encouraging the indebtedness.. girl gone mad Dec 2011 #12

If countries are in debt was it too much spending or not enough taxes? dkf Dec 2011 #7

The Greeks got into the EU by lying about their debt. Then they used the fact they applegrove Dec 2011 #10

There's a very simple, clear account of what happened here: Ghost Dog Dec 2011 #11

the real cause is the euro itself rdking647 Dec 2011 #13