Re: [Pen-l] The Bear Stearns of the Atlantic

To: Progressive Economics <pen-l@xxxxxxxxxxxxxxxxxx>
Subject: Re: [Pen-l] The Bear Stearns of the Atlantic
From: ravi <ravi@xxxxxxxxxxxxxxx>
Date: Thu, 9 Oct 2008 14:24:09 -0400
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On Oct 9, 2008, at 1:58 PM, Louis Proyect wrote:

The New York Times, October 9, 2008
In Flailing Iceland, Disbelief and Regret
By ERIC PFANNER
REYKJAVIK, Iceland — People go bankrupt all the time. Companies do, too. But countries?

Financial or moral bankruptcy? Round two of putting "the market" before all else!

http://cli.gs/BMTnZe

Iceland's fisheries minister, Einar K. Guofinnsson, told Reuters this week it made no sense to issue new quotas when the present quota period expires on August 31 if the market for whale meat was not strong enough.

"The whaling industry, like any other industry, has to obey the market. If there is no profitability there is no foundation for resuming with the killing of whales," he said.

Iceland announced last year it would allow up to 30 minke whales and 9 fin whales to be hunted, controversially ending a ban in place since 1986.

But they have killed just seven minke whales and seven fin whales because of slack demand for whale meat and products.


	--ravi

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- Re: [Pen-l] The Bear Stearns of the Atlantic
  - From: Sean Andrews

References:
- [Pen-l] The Bear Stearns of the Atlantic
  - From: Louis Proyect

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Thread context:
- [Pen-l] Standing, Stretching, Turning Around, ravi Thu 09 Oct 2008, 18:24 GMT
  - RE: [Pen-l] Standing, Stretching, Turning Around, Perelman, Michael Fri 10 Oct 2008, 03:17 GMT
- [Pen-l] Democracy Now promotes "we're bankrupt" meme, Robert Naiman Thu 09 Oct 2008, 17:41 GMT
- [Pen-l] The Bear Stearns of the Atlantic, Louis Proyect Thu 09 Oct 2008, 17:36 GMT
  - Re: [Pen-l] The Bear Stearns of the Atlantic, ravi Thu 09 Oct 2008, 18:03 GMT
    - Re: [Pen-l] The Bear Stearns of the Atlantic, Sean Andrews Thu 09 Oct 2008, 18:14 GMT
      
      Re: [Pen-l] The Bear Stearns of the Atlantic, Doug Henwood Thu 09 Oct 2008, 18:27 GMT
  - <Possible follow-up(s)>
  - Re: [Pen-l] The Bear Stearns of the Atlantic, dsquared Fri 10 Oct 2008, 09:40 GMT
- [Pen-l] Sarah Palin lowered the standards for female candidates, Charles Brown Thu 09 Oct 2008, 17:14 GMT

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