News Links: Iceland fared better by letting its banks fail

I posted this first link on twitter yesterday afternoon and it got a ton of retweets. I have seen a lot of people link out to it.

Bottom line: the concept that bankruptcy is part and parcel of capitalism resonates with people. And that’s why we are viscerally opposed to bailouts, no matter how much the Tim Geithners of the world want to defend them.


Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty years of business experience. He is also a regular economic and financial commentator on BBC World News, CNBC Television, Business News Network, CBC, Fox Television and RT Television. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College. Edward also writes a premium financial newsletter. Sign up here for a free trial.


  1. Dave Holden says:

    *Love* the “Authur Dent” comment on the iPhone Siri article.

    “A feature of the latest release of the iPhone operating system (IOS 5)
    is face recognition using the new hi-res forward facing camera on the
    iPhone 4. One of Steve Jobs’ last decisions was that Apple technology
    should not fall into the hands of ugly people. …” LoL!

  2. Anonymous says:

    The link about Ireland and Iceland was so obvious months ago that really the politicians should have had to accept personal liability for accepting such losses before the tax payer.