3 ms·
The banks should have been nationalised.Iceland was able to solve they Monte Carlo GFC event without creating a moral hazard.
by ImHereToVote 2y ago
The banks should have been nationalised.Iceland was able to solve they Monte Carlo GFC event without creating a moral hazard.
- pjc50 2y agoThey DID nationalise the banks! https://researchbriefings.files.parliament.uk/documents/SN05748/SN05748.pdf https://researchbriefings.files.parliament.uk/documents/SN05... They ended up with 100% of Northern Rock and Bradford and Bingley; 84% of RBS, and 43% of Lloyds.
- ImHereToVote 2y agoThanks for that info. Live and learn.
- pjc50 2y agoThankyou for this comment. The GFC is a complicated subject; there WAS a lot of reprehensible behavior, but it's often not correctly identified because people like simple problems with clear villains. The history of Anglo-Irish Bank is an even more interesting story; Sean Quinn is one of the few bankers who was actually jailed, even if only for a short time.