Icelanders have it rough these days when it comes to fast food: In October McDonald’s skipped out on the island nation, which suffered an economic collapse in late 2008, and now Pizza Hut is closing all but one of its three restaurants after 20 years of business, Reuters reports.
We sort of assumed that McDonald’s could be profitable almost anywhere — perhaps even the surface of the moon — but apparently Iceland’s economic problems are too much for the world’s largest fast food chain to handle.
Meet the canary in the coal mine that no one wanted to listen to: Brooksley Born. As head of the obscure Commodity Futures Trading Commission she sounded the warning in the late 90’s about the need for more transparency and regulation of the derivatives market, but a coalition of Beltway insiders, including the then rock star Alan Greenspan, formed against her to shut her up and shut her out. After the economic collapse, it’s time for them to eat crow. Learn more in tonight’s FRONTLINE presentation of “The Warning” on PBS at 9pm eastern, or watch online.