Iceland is the model the US and Europe should have followed - and
perhaps would have followed if our political classes weren't almost
completely captured by the financial industry.
It would have been rough on New York, but much better for the US as a whole.
http://www.ritholtz.com/blog/2012/08/iceland-did-it-right-and-everyone-else-is-doing-it-wrong/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+TheBigPicture+%28The+Big+Picture%29
Typos courtesy of my iPhone
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