Oops… too bad it’s not here….

Iceland’s special prosecutor into the banking crisis has confirmed that raids have taken place today and that arrests have been made. The Central Bank of Iceland is among the institutions under investigation.

Hoh hoh hoh……

Now we’re talking.  Investigations into the banking crisis, and they’re actually going to lock up some banksters?

Now that’s progress. 

Speaking of progress, has anyone paid attention to the labor force participation rate in Iceland lately, or the change in unemployment, or the change in imports and exports?

I wouldn’t say their economy is “booming”, but it sure looks pretty good compared to a lot of others, having told the banksters who wrote a bunch of bogus paper they couldn’t cover to go stuff it instead of bailing them out!

I wonder if this had anything to do with Iceland’s willingness to “do the right thing”?

If you remember, just about one year ago Iceland refused to bail out IceSave.  There were threat of doom and gloom made by the banking cartel.  But the people stood firm, and made clear that they weren’t going to stand for it – and were willing to be more than a bit forceful in their refusal.

The government folded to the people and told the Banksters to shove it.

It was the right decision.

And now, perhaps, the Banksters responsible might wind up in prison.

That too would be the right decision.

The Market-Ticker