A country we could learn from. They refused to bail out private investors who drove the country into bankruptcy:

"In the March 2010 referendum, 93% voted against repayment of the debt. The IMF immediately froze its loan. But the revolution (though not televised in the United States), would not be intimidated. With the support of a furious citizenry, the government launched civil and penal investigations into those responsible for the financial crisis. Interpol put out an international arrest warrant for the ex-president of Kaupthing, Sigurdur Einarsson, as the other bankers implicated in the crash fled the country."

Hmmm, OK, it looks like the story is a little too good to be true:

http://www.grapevine.is/Features/ReadArticle/A-Deconstruction-of-Icelands-Ongoing-Revolution