Back in the spring I bought an issue of Iceland Review magazine on the newsstand in Halifax. At the back of the issue was a rosy advertising supplement about the Icelandic financial industry, including a spread about the health and promise of the country’s banks (click on the image to see exciting notes in Flickr):

The headlines say, in order, “Kaupthing is Solid,” “Landsbanki Sees Opportunities,” and “Glitnir Bank Well Equipped to Increase Efficiency.” What a difference a few months makes.