Friday, March 12, 2010

Icelands banks profits,public suffers .

Loans in the old banks in Iceland ,where moved to the new banks ,after the Banking collapse in 2008.
The new banks got the loans on 31 to 47% discount ,into their accounting books.
But those who have those loans,the public,companys and so on ,still have to pay 100 % of the loan, even though the banks got them with a big discount from the old banks.
SO the books in the banks are good, but the public will have to pay, and if not, then go bankrupt.

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