2009/3/23 Gordon Joly gordon.joly@pobox.com:
At 22:31 +0000 22/3/09, Thomas Dalton wrote:
2009/3/22 Gordon Joly gordon.joly@pobox.com:
Also recall how local authorities got their fingers burned in Iceland...
That wasn't due to risky investments, that was due to putting your money in a bank that then went bust. Hardly their fault.
Only in that they chased a better return offshore?
Of course it was their responsibility. They made the decision to put their money in those banks. That doesn't mean it was their fault the money disappeared.