Comment Re:Sounds like it's time... (Score 5, Insightful) 136
Banks fail, even in places like Iceland, the UK and the US. Now, many countries have bodies set up to guarantee a certain amount of a given account's deposits, like the FDIC in the US will guarantee the first $250K in an account if the bank fails. But then again the US also has almost 400 million people and the largest economy in the world. It'd be a little insane to expect that Iceland with a population of less than 350,000 people could offer the same guarantees, especially on foreign deposits in privately operated banks. That would be privatizing profit, but socializing the risk, hardly fair.
There are always risks, you took one, it went badly. Such is life.