Iceland is in a lot of trouble. Not only did they have their financial sector implode like ours did, but they were unable to bail out their institutions and are now reliant on the charity of other European nations. It's entirely possible the way of banking most of us grew up knowing will be overhauled and replaced with a system less likely to take on this much risk.
For those of you interested, SNL has a skit discussing what Obama might do to overhaul the financial system here in America:
http://www.funnyordie.com/videos/f5a57185bd/funny-or-die-s-presidential-reunion?rel=player
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