Tuesday, March 10, 2009

Iceland Melts Down

Michael Lewis has written a fantastic article documenting the downfall of Iceland's financial system. I fully expect this piece to be in his upcoming book, and it is well worth reading to further understand the global interactions that led to the place we've come to.

He observes,
An entire nation without immediate experience or even distant memory of high finance had gazed upon the example of Wall Street and said, “We can do that.”