Bank debt crisis: “….what happens when the Irish taxpayer stiffs the German taxpayer?”

Riffing off John’s nicely subversive theme, there’s another subversive version in Vanity Fair by Michael Lewis, which has a useful perspective on the similarities between Ireland and Iceland: Ireland’s financial disaster shared some things with Iceland’s. It was created by the sort of men who ignore their wives’ suggestions that maybe they should stop and ask for directions, for instance. But while Icelandic males used foreign money to conquer foreign places—trophy companies in Britain, chunks of Scandinavia—the Irish male used … Read more