Iceland’s economy tanked before ours, brought on by the same deregulation and shoddy untrustworthy banking practices that would bring us down soon after. Iceland’s economy is now booming. The reason? They punished the bankers and bailed out the taxpayers.
Of all the reasons the Justice Department has given us to loathe them, the fact that no one has been indicted, let alone prosecuted, is the most important failure of all.