[MarineBrat]

All liberalism is theft. This sounds like home buyers stealing from home renters.

[Alberta's Child]

Under most circumstances I would agree with you, but in Iceland's case I believe there's a much larger issue that relates to state-run banks and national currency considerations. Once it is determined that almost all of a country's private mortgage debt is held by foreign interests, a lot of those principles go right out the window.

We have a very similar issue here in the U.S., but it is manifesting itself differently because this is a much larger country with much different considerations related to our currency. We've pretty much done the same thing in many cases, and the price we're paying for it is reflected in the inflationary indications we see as our currency loses value.