Iceland President Olafur 'Ragnar' Grimsson: "Why do we consider banks ... holy churches?"Submitted by SteveMT on Sun, 01/27/2013 - 02:52
[Like his middle name]
@ Davos: Olafur Ragnar Grimsson Iceland president 'Let banks go bankrupt'
How Iceland Overthrew The Banks: The Only 3 Minutes Of Any Worth From Davos
01/26/2013 21:00 -0500
"Why do we consider banks to be like holy churches?" is the rhetorical question that Iceland's President Olafur Ragnar Grimson asks (and answers) in this truly epic three minutes of truthiness from the farce that is the World Economic Forum in Davos. Amid a week of back-slapping and self-congratulatory party-outdoing, as John Aziz notes, the Icelandic President explains why his nation is growing strongly, why unemployment is negligible, and how they moved from the world's poster-child for banking crisis 5 years ago to a thriving nation once again. Simply put, he says, "we didn't follow the prevailing orthodoxies of the last 30 years in the Western world."