Tuesday, January 01, 2013

Maybe A Good Beginning Of A Brand New Year?

Bonne Annee, tout le monde!

Perhaps the last best news from 2012 came out of Iceland! If we only had the testicular fortitude that this little country has had with dealing with the after effects of the economic collapse and their own crisis. In America and most of Europe, the banking and financial executives who destroyed the financial system with their out and out criminal behavior are rewarded with bonuses and bailouts.
We namby pamby capitalist worshipping enablers seem to prefer letting our bankers keep all of the bonus money paid out for bogus deals, then let them walk away with millions more. On top of that, we keep distorting the economy and weakening the middle class by diluting any money they leave in the banks, while showering free money onto the entire banking system so that they can maintain their beloved lifestyle.
Gee Golly Gosh, the thought of jailing a banker just sounds so crazy. It’s as if they are actually being held responsible for the destruction they left in their wake of their greedy, self-centered, feeding frenzy. Go figure.

Iceland has not only started trying and convicting the executives, the first jail sentences were handed out to Larus Weilding, the CEO of The failed Glitner Bank and his corporate finance head, Gudumar Hjaltason. They were each sentenced to 9 months in prison for their illegal scheme involving Morgan Stanley which involved manipulating loans and destroyed the bank and lost the savings of of Icelandic citizens.
In the mean time, Iceland rejected the terms of the IMF bailout they were offered and of all the small countries that were affected in the crisis of 2009, they have managed to turn the corner and seem to be back on the road to a truly progressive political and economic future. They are in the midst of rewriting and adopting a new constitution using a "crowd sourcing" process which drew delegates from the entire stata of their society and involved the entire country in an on line forum in which everyone participates. They realized they had outdated operating system, a constitution modeled on Denmarks which they realized had very little relevance when it came to being hacked by the sophisticated financial predators of our present time. They are going to Install Iceland OS 2013. A new constitution which can be updated. Pretty smart thinking and the reason why the Icelandic spirit has kept it as the worlds oldest continually functioning democracy and why if America doesn't start moving in a more intelligent, progressive direction, regarding the holy shroud we worship as our operating system, then we are doomed, as doomed can be..............

No comments: