When the 2008 financial crisis hit, Iceland had a very different response than the United States. Iceland let the big banks fail, nationalized them and prosecuted the bankers, sending 26 of the bank executives to jail for fraud and market manipulation. In the US, no high level bankers were prosecuted and the big banks were bailed out. The weak response in the US means that fraud and corruption by big finance continue and we are facing an unstable market which many people predict will crash again within the year. We speak with Bill Black of the newly formed Bank Whistleblowers United about the plan they have outlined to instill the rule of law on Wall Street and end fraud with the hope of mitigating the effects of the next financial crisis. And we speak with Randall Wray, an expert in financial instability and macroeconomics, about alternatives to the current financial system that would bring greater stability. For more information, visit www.ClearingtheFOGRadio.org.