Mega-Landslide Vote in Iceland Against Bailouts

An incredible 93 percent of voters in Iceland voted against financing British and Dutch bank bailouts. The politicians in England and the Netherlands argued that they were bailing out local subsidiaries of an Icelandic bank, so Iceland’s taxpayers should pick up the tab, but those branches was operating under the rules of the European Economic [...]

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Using Gasoline to Douse a Fire? OECD Thinks Higher Tax Rates Will Help Iceland’s Faltering Economy.

Republicans made many big mistakes when they controlled Washington earlier this decade, so picking the most egregious error would be a challenge. But continued American involvement with the Organization for Economic Cooperation and Development would be high on the list. Instead of withdrawing from the OECD, Republicans actually increased the subsidy from American taxpayers to the Paris-based bureaucracy. [...]

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