money.cnn.com - 12/2/2008
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(Fortune Magazine) -- On a gloomy morning in early August, more than a month before Wall Street and the world's financial system seized up, a senior aide to Iceland's Prime Minister paid a visit to the Russian embassy in Reykjavík to make a controversial request: Bail us out. Iceland had one of ...
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The Mess That Greenspan Made —
TOP STORIES ‘Bernanke-san’ Signals Policy Shift, Evoking Japan Comparison - Bloomberg Schwarzenegger declares emergency - CNN/Money States Want $176 Billion Slice of Stimulus - Washington Post Iceland: The country that became a hedge fund - Fortune Fund Investors Sue Countrywide Over Loan Modifications - NY Times Big Three automakers try again for a bailout - LA Times Goldman may post $2 billion loss - report - CNN/Money MARKETS/INVESTING Oil trades below $50 a barrel amid ...
Comparing the Crisis in Iceland with the Crisis in the US
Trading Goddess —
... loans that enabled this credit-based boom were re-packaged and sold to debt buyers all over the world. This resulted in a scenario where much of Iceland's wealth was owned by foreigners. 3. Like the US, Iceland also experienced a credit crunch. 4. In both countries, this resulted in a deflationary spiral: significant declines in equities markets, bank failures, and contracting GDP. To learn more about the factors leading up to the Icelandic currency crisis, I recommend this article from CNN. Now in Iceland, like in Argentina, the true breaking point came ...
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http://www.pbs.org/wgbh/pages/frontline/meltdown/
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http://www.pbs.org/wgbh/pages/frontline/meltdown/view/
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Inside Obama
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