The Mudcat Café TM
Thread #117928   Message #2544373
Posted By: caitlin rua
20-Jan-09 - 04:50 PM
Thread Name: Icelandic Nation is Protesting
Subject: RE: Icelandic Nation is Protesting .......
The problem isn't apathy, it's sub prime lending - and now they're out of money because nobody can pay it back. But I'm not too clear on how we could have stopped the banks from doing it. Greed yes, for those in a position to benefit from it. Which was never us.

Anglo-Irish Bank crashed because it "lent" billions (not millions) to its own directors. Now they're in trouble and the government (also broke) is supposed to bail them out. With what? A sieve?

It's happening everywhere, Skarpi.