Recession Diary part 4

Tonight I watched the key news magazine on Icelandic television. I watched with increasing amazement as our beloved supreme leader managed to say that no mistakes had been made by any government institutions. Lots of mistakes were made, but only by the Icelandic banks. Which wasn't really his fault as they were private institutions and what the banks were doing was allowed by the EEA agreement. No mistakes were made by our former beloved leaders in the central bank. None what so ever. It wasn't their role to look after the banks at all. So how could anyone think to blame the central bank. To even doubt the wisdom of our beloved former leader is to show an utter lack of understanding. Unfortunately the financial watchdog, wasn't really a dog. Not really. It was more like a puppy. A very small puppy. Who saw the Icelandic banks grow far beyond it's ability to follow what they were doing. Everyone did as best they could and how can anyone blame them for not having the resources needed to do their job. Hardly justified at all. No mistakes by anyone. Well, maybe just the one. Allowing this EEA agreement. Who could after all have guessed that privatizing the banks would cause them to grow. Nobody could have guessed that. So how can we possibly blame anyone. Well, besides the greedy bank owners. I don't like to be treated like an idiot. If our institutions didn't make any mistakes. Then our politicians must be fools.