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October 7, 2008

The Iceland Crisis in Headlines, Plus One Graph

A scan of some key headlines from Iceland over the last two years. People didn't notice, but in many ways credit crisis really started there -- with many of the same characters, like Moody's -- not with Bear Stearns and the quant-quake in the U.S.:

• April 2, 2006: British firms face chill as Iceland crumbles (Times)
• Feb 26, 2007: Moody's blasted for giving Icelandic banks top rating (Bloomberg)
• Oct 7, 2008: Iceland gets €4bn Russian loan as banks collapse (Telegraph)

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