Excerpt from a Jeff Neilson article from jsmineset.

Now in what may be the greatest economic “mea culpa” in history, we have the media admitting that this government/banking/propaganda-machine Troika has been wrong all along. They have been forced to acknowledge that Iceland’s approach to economic triage was the correct approach right from the beginning.

What was Iceland’s approach? To do the exact opposite of everything the bankers running our own economies told us to do. The bankers (naturally) told us that we needed to bail-out the criminal Big Banks – at taxpayer expense (they were Too Big To Fail). Iceland gave the banksters nothing.