How Mortgage Debt Forgiveness Helped Iceland — And Could Do The Same In The U.S.

How Mortgage Debt Forgiveness Helped Iceland — And Could Do The Same In The U.S.: Though only a tiny country of 320,000, Iceland made international headlines in 2008 when its banks defaulted on $85 billion, exemplifying the dangers of financial deregulation. But this year, Iceland’s economy will outgrow the euro area and the developed world on average. And as difficult as it may be for conservatives here in the U.S. [...]/p