A War Cry From the North

Such a web of lies was woven by the Icelandic capitalists who were often called entrepreneurial Vikings and rumored to be spiffy and swell. In their own publications they appeared as demi-gods and pretended to be patrons of worthy causes, with wives who cared about children in Africa. They claimed they wanted to share something of themselves, that they were doing so well because their husbands worked so hard at the office and met with success in almost every endeavor. They bought their way into companies, gained majority stakes, formed new companies and sold them to one another and kept everything of value from the old companies, the possessions of the shareholders, for themselves. Such was the web of deceit. This was the fate of many a valuable company. Then they reappeared in their own publications, having bought ski slopes in the Alps, luxury apartments in Manhattan and yachts in Florida. These were the happy few indeed.

Note, I use the concept a web of deceit. Still, this is not quite the right phrase because all of this occurred in accordance with the laws of the market and with the blessings of the market. No laws, no rules, prevented the shenanigans of the financial grandees. The politicians of Iceland were fast asleep, shrugged their shoulders and clinked glasses with the financial grandees, they even felt insulted if they were not invited to the feast which was enveloped in Hollywood glamor and razzmatazz.

and…

As a consequence we are not only dealing with a financial depression which is rattling the homes of this country and all the foundations of society, but a profound spiritual depression which makes it even more difficult to face the financial one, or to be more precise, the ruling class will get off scot-free and the people will be left in the clutches of the IMF, which, given its record, will demand even further privatization and that the welfare system be demolished even more thoroughly than is already the case.

From Einar Mar Gudmundsson’s article in Counterpunch

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