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View Diary: Icelandic bank failures could sink us(UPDATED) (272 comments)

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  •  Sorry, but your diary just isn't very coherent. (2+ / 0-)

    It looks like you are trying to convince us that Icelandic banks are in danger of failing. However, none of your links nor anything else in your diary support that conclusion.

    Obama/Richardson '08

    by MikePhoenix on Tue Apr 15, 2008 at 12:18:17 AM PDT

    [ Parent ]

    •  The numbers are a bit scary (6+ / 0-)

      To a banker, assets are loans.  Deposits are liabilities.  

      The three largest banks in Iceland have "assets" worth ten times the country's GDP.  In seven years they have gone from foreign loans representing 4 percent of GDP to foreign loans representing at least 5 times GDP (and probably closer to ten).  

      Given the interconnectedness of global finance, the situation is at least illustrative.

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