“Students interested in economics and finance should closely follow this new Iceland saga, for it is the most dramatic story yet to illustrate how reckless bankers let loose in a free market can destroy entire economies.” – Uwe E. Reinhardt November 3, 2008
It is increasingly clear that the current downturn is fundamentally different from recessions of recent decades. We are experiencing not merely another turn of the business cycle, but a restructuring of the economic order.
From McKinsey Quarterly
For some organizations, near-term survival is the only agenda item. Others are peering through the fog of uncertainty, thinking about how to position themselves once the crisis has passed and things return to normal…
Poor Bjorgolfur Thor has taken an almighty fall in Forbes’ rich list. Last year number 307 he is now 701-793 of the richest people in the world.
Must be a drag not to be able to lend himself money from one of his banks anymore.
Economic Disaster Area 