Tuesday, October 7, 2008
A more measured article on the subject
"Richard Portes, an expert on Iceland at the London Business School, said the government had made a mistake by nationalising Glitnir, creating fear in the markets instead of just providing it with liquidity. "You have the same law of unintended consequences that you had in the case of Lehman Brothers," he said. "The Iceland problem was immediately vastly exaggerated."