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The profit motive is inherently expansionary: investors try to recoup more money than they put in, and if successful, can do it again and again on a larger scale, colliding with others doing the same. Some succeed, some just survive, and some fail altogether. This is real competition, antagonistic by nature and turbulent in operation. It is the central regulating mechanism of capitalism and is as different from so-called perfect competition as war is from ballet.
1. Sigmundur Daviđ and his wife started an offshore company in 2007 which had bonds in three Icelandic Banks: Kaupthing, Landsbanki and Glitnir. *Owning bonds means you are lending money to the bank, which makes the Prime Minister and his wife “creditors” or lenders to the bank.
2. In 2008, the economic crash happened. Those three banks go into insolvency–meaning they collapsed and had to start paying off their debts as best they could–starting with people’s savings and then bonds.
3. In 2009, Sigmundur Daviđ became the chairman for the Progressive Party and was elected into parliament in April of 2009. New transparency laws stated that Members of Parliament had to reveal any shareholding in a company that was over 25%. At that time Sigmundur Daviđ was still 50% owner of Wintris inc. with his wife owning the other 50%.
4. On December 31, 2009, Sigmundur Daviđ sold his wife his half of the company for $1 USD.
5. After the crash in 2008, creditors who took their money out of Iceland were charged a 39% “stability tax.”
6. Last year, in 2015, Sigmundur Daviđ’s government removed the 39% “stability tax” in favour of a deal which only asked for a “stability contribution,”effectively removing 2 billion Euros that would have gone to the state, but now goes to creditors: Wintris inc., his wife’s company, Wintris inc., being one of those creditors.
True. Suppose I'll have to be a bit flexible.Hi, PD. Do you think it is wrong to have a policy of not having sex with women who don't identify with being feminists? In this world of lots of bad people, I feel it's necessary to set up some restrictions. Xoxoxo, Lenin
There's one problem with that policy: What about women who are feminists through their actions but do not self-identify as feminists?