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They Let 'em Fail

Iceland refused to take a loan
From Banksters at the IMF
Instead let banks fail,
Kept the debt...
And sent the loan sharks home

ROTMS

Source: Bloomberg

Iceland’s President Olafur R. Grimsson said his country is better off than Ireland thanks to the government’s decision to allow the banks to fail two years ago and because the krona could be devalued.
“The difference is that in Iceland we allowed the banks to fail, ” Grimsson said in an interview with Bloomberg Television’s Mark Barton today. “These were private banks and we didn’t pump money into them in order to keep them going; the state did not shoulder the responsibility of the failed private banks.”
Ireland’s Prime Minister Brian Cowen said this week his government has discussed an 85 billion-euro ($112 billion) bailout with the European Union and International Monetary Fund after the country’s banks threatened to bring the euro member to the brink of bankruptcy. Iceland’s banks, which still owe creditors about $85 billion, were split to create domestic units needed to keep the financial system running, while foreign liabilities remained within the failed lenders.
As a consequence, “Iceland is faring much better than anybody expected, ” Grimsson said. The Icelandic state’s liability on foreign depositor claims stemming from Icesave accounts at failed Landsbanki Islands hf should be put to a national referendum, he said.
“How far can we ask ordinary people - farmers and fishermen and teachers and doctors and nurses - to shoulder the responsibility of failed private banks, ” said Grimsson. “That question, which has been at the core of the Icesave issue, will now be the burning issue in many European countries.”

poem by Ray Lucero
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Tales Of A Wayside Inn : Part 1. The Musician's Tale; The Saga of King Olaf IX. -- Thangbrand The Priest

Short of stature, large of limb,
Burly face and russet beard,
All the women stared at him,
When in Iceland he appeared.
'Look!' they said,
With nodding head,
'There goes Thangbrand, Olaf's Priest.'

All the prayers he knew by rote,
He could preach like Chrysostome,
From the Fathers he could quote,
He had even been at Rome,
A learned clerk,
A man of mark,
Was this Thangbrand, Olaf's Priest.

He was quarrelsome and loud,
And impatient of control,
Boisterous in the market crowd,
Boisterous at the wassail-bowl,

[...] Read more

poem by Henry Wadsworth Longfellow
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Thangbrand the Priest

Short of stature, large of limb,
Burly face and russet beard,
All the women stared at him,
When in Iceland he appeared.
"Look!" they said,
With nodding head,
"There goes Thangbrand, Olaf's Priest."

All the prayers he knew by rote,
He could preach like Chrysostome,
From the Fathers he could quote,
He had even been at Rome.
A learned clerk,
A man of mark,
Was this Thangbrand, Olaf's Priest.

He was quarrelsome and loud,
And impatient of control,
Boisterous in the market crowd,
Boisterous at the wassail-bowl,

[...] Read more

poem by Henry Wadsworth Longfellow
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The Iceland That Is Named Love

If you will have to go,
To the Iceland that is named Love
Take my memory along.

It is heard
That once there live a couple of swans,
They both governed each other’s heart,
Picked dreams descending into the eyes,
Wove the fabric of faithfulness with silky dialogues,
And renovated it on each day;
But what happened as the season changed,
They both flew on diverse directions,
It is heard
Since then they were not seen together.

The Iceland that is named Love,
If you will have to go there,
Please do visit the lonely tree,
Upon whose costume of the branches,
On every side the names of lovers are carved.

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poem by Muhammad Shanazar
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The Black Swans

In Iceland early one morning
A black swan without warning
Made a dramatic appearance
An extremely rare occurrence
It was actually the first of a series
That would raise many queries
Unexpectedly dreams were shattered
With Stock Markets getting battered
They called it a financial holocaust
The result of greed and blind trust
In unfettered capitalist manoeuvres
That made fools of gullible investors
Write offs and bail out plans followed
The bankers their pride finally swallowed
And set about changing their strategy
To cope with the crisis intelligently

But no one imagined that the Black Swan
Still lurking by and watching with scorn
Was waiting for an auspicious date

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poem by Sandra Martyres
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To the stream of iceland

I heed the call of your soul
of tempestuous phonetics that reek in thine.
And the salt of the storm
seedling in the mentholated nostril of my wrist.

I rented the cringing chin of thundery-piece,
and erected our ‘’ballad’’ of prophecy to the cloud.
As a menial, I pierced through the reign
of countable shadows that wiggle with
the cry of a scabbard.

I mumbled to the puny sea,
as I climbed your fiery eyes.
Dolefully without you, I signed plaudit to
time. Tale after time in mine.
I gained in the debt and wrote in the mold ocean that sleeps in the dusk
of the evening

Howbeit, the ballad of the mousy owl roamed
my heart, in the rite of rocky smile.

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poem by Ebi Robert
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Of The Wooing Of Halbiorn The Strong

A STORY FROM THE LAND-SETTLING BOOK OF ICELAND, CHAPTER XXX.

At Deildar-Tongue in the autumn-tide,
So many times over comes summer again,
Stood Odd of Tongue his door beside.
What healing in summer if winter be vain?
Dim and dusk the day was grown,
As he heard his folded wethers moan.
Then through the garth a man drew near,
With painted shield and gold-wrought spear.
Good was his horse and grand his gear,
And his girths were wet with Whitewater.
“Hail, Master Odd, live blithe and long!
How fare the folk at Deildar-Tongue?”
“All hail, thou Hallbiorn the Strong!
How fare the folk by the Brothers’-Tongue?”
“Meat have we there, and drink and fire,
Nor lack all things that we desire.
But by the other Whitewater

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poem by William Morris
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Genetic studies in Iceland have found that many of the women who were the founding stock of Iceland came from England and what is now France. Some were probably captured and carried off in Viking raids only 40 generations ago.

quote by Keith Henson
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Dissonance Of Images

The dissonance of Images

Where is Haiti again? Or for that matter Chile? Both nations were on
the news only a few days ago. Earthquakes and tsunamis, was it not?
Folks’ been knocking on my door wanting money to help people of
Madeira, which is nearer home so we know it is a tourist island. Ebb
and flow of tragedies, soon forgotten. Now we have vivid flicks from
an exploding volcano on Iceland, a small village has been evacuated in
case snow turns into water and drown them all. Iceland has ponies,
that produce manure, which is good for the roses. There are no trees
on the isle, and few dogs, thus it’s possible to walk in its capital without
stepping on dog turd. Not that this fable will want me to go live there.
So much news, the radio, TV, and now, on your mobile phone as well.
The dissonance of images lose all meaning, we hear and see no evil;
until black smoke rises from behind the mountain and a voice screams:
“Do you want total war? ” Heaven help us if the echo’s answer is: ”Yes! ”

poem by Oskar Hansen
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Icey (feat. St. Lunatics)

I got a whole heard of cows ta die for my 6'
Hockey players pagin' me to practice on my wrist
20 inch chocko treads so my whip don't slip
Pullin' up bringin' joy like my nigga Baugette
If I go on a rampage then watch my mo' flip
Draw from both hips, emptyin' both clips
Got a whole lotta niggas wanna ride wit' me
Now that a niggas so hot, can strike fire from me
Thinkin' Nelly 'posed to take 'em outta poverty
But when I tell 'em no, they think of robbin' me
Son ain't no stoppin' me, some are home at Iceland
Hang with penguins, like that's my reason (that's my reason)
Like Berkley we'll find the part that's freezin'
Last time you seen Nelly, snowin' in June
You ever had a bicoastal orgy happen off in yo' room
But what happen's in Cancun, stay's in Cancun
[Chorus-2x](Nelly)
Icey that, icey this
Icey neck, icey wrist
Icey cris, I see miss

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song performed by Nelly, music by Nelly
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