Lewis on Iceland's Fall: Wall Street on the Tundra

by Benjamin Domenech on 1:57 am March 4, 2009

Michael Lewis pens the tale of Icelandic downfall: “You have a dog and I have a cat. We agree that they are each worth a billion dollars. You sell me the dog for a billion and I sell you the cat for a billion. Now we are no longer pet owners, but Icelandic banks.”

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