Iceland: Pay up or what?

I just posted this at the FT’s Economics Forum:

‘I do not remember any bank in Iceland or elsewhere with a sign over its door saying ‘This bank’s actions are the collective responsibility of all citizens in this country’. But if this be so, please may I have my 2001-2007 bonuses now?
Equally, one cannot sign a document agreeing as a Goverment to pay money back….and then use these same innocent citizens as a plebiscitary get-out clause afterwards.
Although they suggest a circular argument, the two moral/legal assertions above drive one to a common conclusion: never trust bankers or politicians.
Much better to trust in the commonsense of the people.’

Being a tad less restrained on my own site (where there is no censorship at all) I would add….So the answer is clear: as we’re never going to get the money anyway, let’s kill:
(a) The Icelandic Government (Revenge for the Cod War is long overdue)
(b) Every Icelandic banker
(c) Every hedge fund and merchant bank that sold innocent Icelandic bankers complete crocks of shit as ‘credit default swaps’.

I know, I know: this means some innocent people are going to get killed. Look,it’s a dirty job being Shitfinder General, but somebody’s got to do it.