The BBC is reporting a story titled “Bank insurance levy gaining support at Davos“, noting that politicians and bankers have supported the idea for an insurance fund that would bail out banks instead of taxpayers.
The recent earthquake in Haiti is a disaster of epic proportions. It is a humanitarian disaster with an estimated 200,000 dead. It has also caused a catastrophic collapse in confidence in the Haitians’ ability to repay their debts. Haiti is now an insolvent sovereign, by way of natural disaster.
According to the BBC, Iceland’s president has vetoed a bank repayments bill. According to the article a quarter of the population of Iceland signed a petition to not sign the bill because they perceive the repayment to be a bailout of the failed Icelandic banks by taxpayers.