Even More Reasons

In a comment to a previous blog, Baldur said:

Tell me one reason why Davíð should resign?  Why is his responesebility more than Jóhannas for exsample?? Wasnt she a part of the government wich ruled when everything collapsed?  People in Iceland need someone to blame for all the mess they are in.  Fact is that most people have them self to blame for the shit they are in.

In response to his comments I quickly posted (amended here) five really good reasons:

1. He is a politician.  I have already explained why having a politician as the head of a central bank is a bad idea.

2. He is not qualified to do the job.  Central banks don't lend themselves well to on the job training.

3. Taking a 75% share in Glitnir(later anulled by the nationalization of the bank), essentually making private debt sovereign debt.

4. The pegging of the kronur ( My personal favorite).  It will go down in the economic books as the shortest in history (one day) and probably the dumbest. This, by the way, helps the "not qualified " argument.

5. For implying on national television (Kastljós) that Iceland would not cover the debts of the banks.  This one alone is grounds for dismissal in any normal circumstance.  Could you imagine the financial and political fallout in the US if Bernacke had said something to that effect?

Add to that the governments request, the peoples demands, and some well respected economists views http://www.bloomberg.com/apps/news?pid=20601110&sid=azSpFJ5UHFA0  and that pretty much sums up why he should resign.   I have never blamed Davið or anyone else for the mess that Iceland is in. I am stating that he should resign based on affiliation, education and work performance. Non-biased objective reasoning.  Something most politicians and their party members have never heard of.

GTB

Christensen: Neyðarlegt að Davíð segi ekki af sér