Banks have always been built for and by cheating depositors. In almost all cases they are privately owned corporations. The average Joe in Iceland or anywhere else has no part to play in their creation, regulation, rewards or demise. Therefore they should not share in their losses if they were not in a position to share in their gains! Somewhere the money always still exists in the pockets of some bastards who came out on top. Maybe the money is sitting in a Swiss bank or other hiding place, so sue Switzerland instead and throw the banking executives in jail!