Iceland Sets a new Precedent for Handling Overly Risk-Seeking Banks

We heard a joke yesterday… apparently, Iceland misheard the UK’s request for its “cash.” The blue lagoon island nation thought they just needed to offer its European counterpart more “ash.” Go figure.

As this entire continent is hunkered down without air travel, and this editor’s weekend plan precariously hinges on flight, we wouldn’t be surprised at all if the Icelandic translation below is correct. Who can fly there to verify otherwise?

At this point, we wouldn’t be surprised to see the US everyman react the same way to Goldman.

The Daily Reckoning