The Icelandic banks were lending in the USA and in Europe. Elsewhere?
Gene Coyle
On Dec 26, 2008, at 10:14 PM, michael perelman wrote:
I'm trying to understand today's story in the Wall Street Journal
about Iceland. The article says that the banks were offering more
than 7% interest on deposits and the Icelanders were borrowing money
cheaply from places like Japan. To whom were the banks lending at
rates substantially more than 7%? Or were they just using the funds
to speculate on a domestic bubble?
--
Michael Perelman
Economics Department
California State University
Chico, CA
95929
530 898 5321
fax 530 898 5901
http://michaelperelman.wordpress.com
_______________________________________________
pen-l mailing list
[email protected]
https://lists.csuchico.edu/mailman/listinfo/pen-l
_______________________________________________
pen-l mailing list
[email protected]
https://lists.csuchico.edu/mailman/listinfo/pen-l
