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Let the banks fail

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01/30/2013

So says the President of Iceland. He also said that the financial sector, even a successful one, is like a parasite on the economy drawing out vital resources for the innovative productive sectors.

Iceland president: Let banks go bankrupt

Mark Thornton is a Senior Fellow at the Mises Institute and the book review editor of the Quarterly Journal of Austrian Economics. He has authored seven books and is a frequent guest on national radio shows.

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