> That Iceland officially nationalized banks and the US left the banks officially in private hands is really a trivial detail.
That detail is anything but trivial. It's the difference between giving the assets of a company to creditors during bankrupcy, or just clearing the debts, and keeping the assets as company possessions (and keeping the company owners).
To tell you the truth, I still can not understand how the US (out of all countries, the one where people do not trust the State) accepted that bank bailout.
That detail is anything but trivial. It's the difference between giving the assets of a company to creditors during bankrupcy, or just clearing the debts, and keeping the assets as company possessions (and keeping the company owners).
To tell you the truth, I still can not understand how the US (out of all countries, the one where people do not trust the State) accepted that bank bailout.