Stunning Collapse of Iceland


	Stunning Collapse of Iceland

RecordSage

10-15-2008 5:07 PM

1276 views

RecordSage says:

Very sad.

2 Comments |

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10-16-2008 12:33 AM

muckdog

Kind of amazing how just a few years ago, Iceland was booming!

10-16-2008 7:44 PM

rvnurse2b

we are heading for the one world government... everyone's crashing economies are the vehicle that will propel the antichrist into power....

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/744f310b-937e-490a-bdaa-b87ce4e22903/083BE0F7-2072-4252-A85E-81492511F918/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.businessweek.com/globalbiz/content/oct2008/gb2008109_947306.htm?campaign_id=rss_daily" href="http://www.businessweek.com/globalbiz/content/oct2008/gb2008109_947306.htm?campaign_id=rss_daily" style="font-size: 11px;">www.businessweek.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.businessweek.com/globalbiz/content/oct2008/gb2008109_947306.htm?campaign_id=rss_daily"><H1>The Stunning Collapse of Iceland</H1></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.businessweek.com/globalbiz/content/oct2008/gb2008109_947306.htm?campaign_id=rss_daily"><H2>
Even after the government's seizure of top banks, Iceland may face bankruptcy, with dire effects for huge Icelandic investments overseas
</H2></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.businessweek.com/globalbiz/content/oct2008/gb2008109_947306.htm?campaign_id=rss_daily"><div align="center"><img src="http://content8.clipmarks.com/blog_cache/www.businessweek.com/img/D3CF3EE5-3C32-4F6C-9002-54B08B83AF4A" alt="http://images.businessweek.com/story/08/600/1009_reykjavik1.jpg" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.businessweek.com/globalbiz/content/oct2008/gb2008109_947306.htm?campaign_id=rss_daily">To avert financial disaster, the country—which is a founding member of NATO—may turn to Russia for help. The Russian government has said it would consider lending Iceland $5.5 billion. "We have not received the kind of support that we were requesting from our friends," Haarde said. "So in a situation like that one has to look for new friends."</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.businessweek.com/globalbiz/content/oct2008/gb2008109_947306.htm?campaign_id=rss_daily">Home to just 304,000 people, tiny Iceland is emerging as the biggest casualty of the global financial crisis. On Oct. 9, the government took control of the country's largest bank, Kaupthing (<A href="http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?symbol=KAUP.ST" linkindex="147" set="yes">KAUP.ST</A>), and halted trading on the Reykjavik stock exchange until Oct. 13. </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.businessweek.com/globalbiz/content/oct2008/gb2008109_947306.htm?campaign_id=rss_daily"><H3>Mountain of Foreign Debt</H3></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.businessweek.com/globalbiz/content/oct2008/gb2008109_947306.htm?campaign_id=rss_daily">In just five years, the banks went from being almost entirely domestic lenders to becoming major international financial intermediaries</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/083BE0F7-2072-4252-A85E-81492511F918/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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